Unable to raise enough money to cover its financing and other liabilities, Shelton semiconductor maker TranSwitch Corp. filed for Ch. 7 bankruptcy Thursday.
The company has liabilities of $17.2 million, while it values its property, equipment, patents and other assets at $3.5 million, according to its filing in U.S. Bankruptcy Court in Bridgeport.
The company lost nearly $46 million between 2010 and 2012.
TranSwitch warned investors in March that it would not make it through year end without a capital infusion. Although it raised $3.7 million through a stock offering in April, and also modified its loan with Bridge Bank, it wasn’t enough.
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