- Filing of certain prospectuses and communications in connection with business combination transactions (425)
October 09 2008 - 4:55PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report
(Date
of
earliest event reported)
:
October 3, 2008
TRANSWITCH
CORPORATION
(Exact
name of registrant as specified in its charter)
DELAWARE
|
0-25996
|
06-1236189
|
(State
or other jurisdiction of
|
(Commission
|
(I.R.S.
Employer
|
incorporation)
|
File
Number)
|
Identification No.)
|
Three
Enterprise Drive
Shelton,
Connecticut 06484
(Address
of principal executive offices) (Zip Code)
Registrant's
telephone number, including area code:
(203)
929-8810
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (
see
General
Instruction A.2. below):
|
x
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
Item
2.05 Costs Associated with Exit or Disposal Activities.
Item
8.01 Other Events.
On
October 3, 2008, TranSwitch Corporation (“TranSwitch”) decided to effect a
restructuring to be implemented and concluded during the fourth quarter of
2008.
TranSwitch
expects that such restructuring will result in annual savings of approximately
$3.5 million, and that these savings will begin to be recognized in first
quarter 2009. Of this amount, TranSwitch expects annual savings of approximately
$1.3 million in reduced employee related costs, and savings of approximately
$2.2 million relating to reduced facilities and sub-contractor expenses and
the
reduction and/or deferral of certain software tool purchases.
In
connection with the restructuring, TranSwitch expects to incur pre-tax
restructuring charges of approximately $400,000,
$340,000
of which will be cash expenditures primarily for employee related costs. The
Company expects these charges to be recorded in the fourth quarter of 2008.
A
copy of TranSwitch’s press release announcing this information and certain other
information is attached as Exhibit 99.1 to this filing.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
No.
|
Description
|
99.1
|
Press
Release, dated October 6, 2008.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
TRANSWITCH
CORPORATION
|
|
|
|
|
|
|
October
9, 2008
|
By:
|
/s/
Robert A. Bosi
|
|
Name:
|
Robert
A. Bosi
|
|
Title:
|
Vice
President and Chief Financial Officer
|
Exhibit Index
|
|
Exhibit
No.
|
Description
|
99.1
|
Press
Release, dated October 6, 2008.
|
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