Transmeta Corp. announced Thursday that it filed a registrationstatement with the Securities and Exchange Commission to raise
$200 million in a public offering.
Transmeta, which offers low-power x86-compatible chips for the
notebook PC and Internet appliance markets, has received
commitments from such PC manufacturers as Fujitsu, Hitachi Ltd.
(stock: HIT), IBM Corp. (stock: IBM), and NEC Corp. (stock:
NIPNY), as well as Sony Corp. (stock: SNE).
The offering is being co-managed by Morgan Stanley Dean Witter
and Deutsche Banc Alex Brown, as well as Salomon Smith
Barney, Banc of America Securities LLC, and SG Cowen.
Transmeta, Santa Clara, Calif., has applied for a Nasdaq listing
under the symbol "TMTA," the company said.
Some of Transmeta's biggest investors include Microsoft Corp.
(stock: MSFT) co-founder Paul Allen, whose Vulcan Ventures
investment vehicle currently holds a 7 percent stake equal to
Transmeta incurred net losses of $10.1 million in 1998, $41.1
million in 1999, and $43.4 million in the first half of 2000,
according to the filing. As of June 30, 2000, the company had an
accumulated deficit of approximately $119.4 million.
For the first six months of 2000, Transmeta recorded revenue of
$358,000, the company said, although the company currently sits
on a war chest of $112 million in cash.