Transmeta shareholder suggests company consider options, including delisting or going dark

By Lisa Kerner

Charlotte, N.C., Nov. 19 - Transmeta Corp. investors led by Riley Investment Partners Master Fund, LP urged the company to "carefully review all options to enhance shareholder value," according to a schedule 13D filing with the Securities and Exchange Commission.

The company's "public market valuation reflects a negative enterprise value despite strong prospects for positive free cash flow in 2008 and the five years for which it will be paid license fees under its recent agreement with Intel Corp."

Riley suggested the company could possibly sell its intellectual property "to a company who can better leverage the costs associated with pursuing this strategy," delist from Nasdaq and/or go "dark" to reduce public company costs. Transmeta could also engage in a "significant Dutch tender," the filing stated.

The reporting persons beneficially own 708,998 shares or 5.9% of the company's outstanding stock.

Santa Clara, Calif.-based Transmeta develops computing, microprocessor, semiconductor technologies and related intellectual property.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.