Published:
Centillium Communications Approved for Listing on The Nasdaq Capital Market
FREMONT, Calif., Aug. 19 /PRNewswire-FirstCall/ -- Centillium
Communications, Inc. (Nasdaq: CTLM) a leading provider of highly innovative
communications processing technology, today announced that on Aug. 18, 2008,
Centillium received notice from the Listing Qualifications Department of The
NASDAQ Stock Market, LLC that its application to transfer its common stock to
The Nasdaq Capital Market (the "Capital Market") from The Nasdaq Global Market
(the "Global Market") was approved. While its common stock traded on the
Global Market, Centillium received a deficiency notice from Nasdaq on Feb. 21,
2008, stating that Centillium had a grace period of 180 days, or until Aug.
19, 2008, to cure the deficiency by meeting the $1.00 per share minimum bid
price for 10 consecutive trading days. Because Centillium failed to meet the
minimum bid price for 10 consecutive days during the grace period, it elected
to apply to transfer its common stock to the Capital Market. Upon this
transfer, pursuant to the Nasdaq Marketplace Rules, Centillium will receive an
additional grace period of 180 calendar days, or until Feb. 17, 2009, to
comply with the $1.00 per share minimum bid price rule while on the Capital
Market. There can be no assurance that Centillium will achieve compliance
with the minimum bid price requirement. Even if Centillium is able to comply
with the minimum bid requirement, there is no assurance that in the future
Centillium will continue to satisfy other Nasdaq listing requirements, with
the result that its common stock may be delisted from the Capital Market.
Centillium's common stock will begin trading on the Capital Market, and
will cease trading on the Global Market, at the opening of business, Aug. 20,
2008. The trading symbol for Centillium's common stock remains "CTLM."
According to Nasdaq, the Capital Market currently includes over 500 companies
and operates in substantially the same manner as the Global Market. Securities
listed on the Capital Market satisfy all applicable qualification requirements
for Nasdaq securities and all companies listed on the Capital Market must meet
certain financial requirements and adhere to Nasdaq's corporate governance
standards.
About Centillium Communications, Inc.
Centillium Communications, Inc. (NASDAQ: CTLM) delivers highly innovative
communications processing technology for global systems vendors targeting
service provider, enterprise and consumer markets. Centillium's high
performance Systems-on-Chip (SoC) products power leading edge optical,
Voice-over-Internet Protocol (VoIP), security and data systems requiring top
quality, highly integrated, very low power processing solutions that help
minimize the energy footprint of communications networks. With a long heritage
of technology leadership and first-to-market product development, Centillium
provides semiconductor solutions that keep customers and end users at the
forefront of the communications evolution. Centillium is a global company with
headquarters inFremont, CA. Additional information is available at
http://www.centillium.com.
Safe Harbor Statement under Private Securities Litigation Reform Act of
1995
This press release includes statements that are forward-looking statements
within the meaning of U.S. federal securities laws, such as statements
concerning the expected trading of Centillium's common stock on The Nasdaq
Capital Market. Actual results may differ materially from those indicated by
such forward-looking statements based on a variety of risks and uncertainties,
including Centillium's inability to control Nasdaq's listing decisions.
Centillium undertakes no obligation to update forward-looking statements for
any reason. Information about potential factors that could affect Centillium's
financial results is included in Centillium's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and in other documents on file with the
Securities and Exchange Commission.
Important Information for Investors and Stockholders
TranSwitch expects to file a Registration Statement on Form S-4, and
TranSwitch and Centillium will file a proxy statement/prospectus with the SEC,
in connection with the proposed merger. TRANSWITCH AND CENTILLIUM URGE
INVESTORS AND STOCKHOLDERS TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT
BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED BY EITHER PARTY WITH
THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors and stockholders will be able to obtain the proxy
statement/prospectus and other documents filed with the SEC free of charge at
the website maintained by the SEC at http://www.sec.gov. In addition,
documents filed with the SEC by TranSwitch will be available free of charge on
the investor relations portion of the TranSwitch website at
http://www.transwitch.com. Documents filed with the SEC by Centillium will be
available free of charge on the investor relations portion of the Centillium
website at http://www.centillium.com.
Participants in the Solicitation
This communication is not a solicitation of a proxy from any security
holder of Centillium. However, Centillium, and certain of its directors and
executive officers, may be deemed participants in the solicitation of proxies
from the stockholders of Centillium in connection with the merger. The names
of Centillium's directors and executive officers and a description of their
interests in Centillium (including their ownership of Centillium stock) are
set forth in the proxy statement for Centillium's 2008 annual meeting of
stockholders, which was filed with the SEC on April 29, 2008. Investors and
stockholders can obtain more detailed information regarding the direct and
indirect interests of Centillium's directors and executive officers in the
merger by reading the definitive proxy statement/prospectus when it becomes
available.
SOURCE Centillium Communications, Inc.
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