Transmeta: Paul Allen joins 6.3%
Paul Allen, co-founder of Microsoft, takes a 6.3% stake in Transmeta. Transmeta submitted details for the planned IPO to the Nasdaq today.
The issue of 13 million shares is planned, each at a price between 11 and 13 US dollars. The consortium bank duo consists of Morgan Stanley Dean Witter and Deutsche Bank. According to information from the two banks, the Transmeta share is currently 1.95 million oversubscribed. Transmeta announces in the filing that the accumulated losses through June 30, 200 amount to 119.4 million US dollars. Transmeta also stated that further losses were to be expected. According to Transmeta, Sony, Fujitsu and Hitachi are currently the only customers for the Crusoe chip.