TranSwitch closes $2.5M private placement

|About: TranSwitch Corp. (TXCCQ)|By:, SA News Editor

TranSwitch (TXCCcloses a $2.5M private placement of common stock from its largest shareholder, Michael Steinhardt's Ilex Partners.

Ilex has the right to purchase another $9.8M shares at $0.225/share in the next 6 months. (8-K)

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