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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT PURSUANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO SECTION 13 OR 15(D) OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report </B>(Date of earliest
event reported)<B>: May 8, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TRANSWITCH CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; font-weight: bold; text-align: center; padding: 0; text-indent: 0">DELAWARE</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center; padding: 0; text-indent: 0">0-25996</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center; padding: 0; text-indent: 0">06-1236189</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(State or other jurisdiction of</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(Commission</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">incorporation)</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;File Number)</TD>
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;&nbsp; Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Three Enterprise Drive</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shelton, Connecticut 06484</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 0; text-indent: 0">(Address of principal executive offices)&nbsp;&nbsp;(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant's telephone number, including
area code:&nbsp;&nbsp;<B>(203) 929-8810</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp; Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 (<I>see </I>General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="font-family: Wingdings">o </FONT>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 8, 2012, TranSwitch Corporation
(the &ldquo;Company&rdquo;) announced that it entered into a Securities Purchase Agreement dated May 8, 2012 (the &ldquo;Investor
Purchase Agreement&rdquo;) with certain purchasers to sell 1,315,006 shares of the Company&rsquo;s Common Stock, par value $0.001
per share (the &ldquo;Common Stock&rdquo;), for gross proceeds of $2,445,911 (the &ldquo;Investor Offering&rdquo;).
The purchase price for each share of Common Stock was $1.86. Attached hereto as Exhibit&nbsp;10.1 is the form of Investor Purchase
Agreement entered into by the Company and such purchasers, which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;On May 8, 2012, the Company
also announced that it entered into a Securities Purchase Agreement dated May 8, 2012 (the &ldquo;Director and Officer
Purchase Agreement&rdquo;) with certain  of the Company&rsquo;s directors and officers to sell up to 161,150 shares of the
Company&rsquo;s Common Stock, for gross proceeds of $333,580 (the &ldquo;Director and Officer Offering&rdquo; and together
with the Investor Offering, the &ldquo;Registered Direct Offering&rdquo;). The purchase price for each share of Common Stock
in the Director and Officer Offering was the greater of $2.07, which was equal to or greater than the consolidated closing
bid price immediately preceding the time the Company entered into the Director and Officer Purchase Agreement, or the price
that will be the consolidated closing bid price on May 10, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The shares to be sold in the
Registered Direct Offering are registered pursuant to a prospectus supplement dated May 8, 2012 and an accompanying
prospectus dated October 21, 2009, pursuant to the Company&rsquo;s effective shelf registration statement on Form S-3, which
was filed with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) on October 21, 2009 and declared
effective by the Commission on October 28, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The net proceeds to the Company from the
Registered Direct Offering, after deducting the Company&rsquo;s estimated offering expenses, are expected to be approximately $2,729,491.
The Registered Direct Offering is expected to close on or about May 11, 2012, subject to the satisfaction of customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing descriptions of
the Investor Purchase Agreement and the Director and Officer Purchase Agreement do not purport to be complete and  are
qualified in their entirety by reference to Exhibits 10.1 and 10.2, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company issued a press release announcing
the Registered Direct Offering, a copy of which is attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item&nbsp;2.02 Results of Operations
and Financial Condition.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 8, 2012, the Company issued a press
release reporting its results of operations and financial condition for the quarter ended March 31, 2012, a copy of which is furnished
as Exhibit 99.1 to this Current Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information contained in this Item
2.02, including information relating to Item 2.02 contained in Exhibit 99.1 attached hereto, is intended to be furnished and shall
not be deemed &ldquo;filed&rdquo; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;)
or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the
Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Exhibits included
as part of this Current Report on Form 8-K are listed in the Exhibit Index that follows. The Exhibit Index and the Exhibits listed
therein are incorporated herein by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;Exhibits</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 8%; font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 91%; font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0"><FONT STYLE="font-size: 10pt">Exhibit
    No.</FONT></TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Opinion of Pierce Atwood LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Consent of Pierce Atwood LLP (included in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Press Release, dated May 8, 2012.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">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.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 50%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 35%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 9%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">TranSwitch Corporation<BR> &nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font-style: italic; padding: 0; text-indent: 0">May 8, 2012</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><I>By:</I>&nbsp;&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline; padding: 0; text-indent: 0">/s/ Robert Bosi&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">Name:&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Robert Bosi</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">Title:&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><I>Chief Financial Officer</I>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Exhibit&nbsp;Index</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 8%"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 91%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Opinion of Pierce Atwood LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Consent of Pierce Atwood LLP (included in Exhibit 5.1)</FONT></TD></TR>
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    <TD>&nbsp;</TD>
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<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Press Release, dated May 8, 2012.</FONT></TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "v312087_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 24455}]
{"company-data": {"conformed-name": "TRANSWITCH CORP /DE", "cik": "0000944739", "assigned-sic": "3674", "irs-number": "061236189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25996", "film-number": "12822091"}, "business-address": {"street1": "THREE ENTERPRISE DRIVE", "city": "SHELTON", "state": "CT", "zip": "06484", "phone": "2039298810"}, "mail-address": {"street1": "THREE ENTERPRISE DRIVE", "city": "SHELTON", "state": "CT", "zip": "06484"}}
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)
: May 8, 2012
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):
o
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 1.01. Entry into a Material Definitive Agreement.
On May 8, 2012, TranSwitch Corporation
(the "Company") announced that it entered into a Securities Purchase Agreement dated May 8, 2012 (the "Investor
Purchase Agreement") with certain purchasers to sell 1,315,006 shares of the Company's Common Stock, par value $0.001
per share (the "Common Stock"), for gross proceeds of $2,445,911 (the "Investor Offering").
The purchase price for each share of Common Stock was $1.86. Attached hereto as Exhibit 10.1 is the form of Investor Purchase
Agreement entered into by the Company and such purchasers, which is incorporated herein by reference.
On May 8, 2012, the Company
also announced that it entered into a Securities Purchase Agreement dated May 8, 2012 (the "Director and Officer
Purchase Agreement") with certain  of the Company's directors and officers to sell up to 161,150 shares of the
Company's Common Stock, for gross proceeds of $333,580 (the "Director and Officer Offering" and together
with the Investor Offering, the "Registered Direct Offering"). The purchase price for each share of Common Stock
in the Director and Officer Offering was the greater of $2.07, which was equal to or greater than the consolidated closing
bid price immediately preceding the time the Company entered into the Director and Officer Purchase Agreement, or the price
that will be the consolidated closing bid price on May 10, 2012.
The shares to be sold in the
Registered Direct Offering are registered pursuant to a prospectus supplement dated May 8, 2012 and an accompanying
prospectus dated October 21, 2009, pursuant to the Company's effective shelf registration statement on Form S-3, which
was filed with the Securities and Exchange Commission (the "Commission") on October 21, 2009 and declared
effective by the Commission on October 28, 2009.
The net proceeds to the Company from the
Registered Direct Offering, after deducting the Company's estimated offering expenses, are expected to be approximately $2,729,491.
The Registered Direct Offering is expected to close on or about May 11, 2012, subject to the satisfaction of customary closing conditions.
The foregoing descriptions of
the Investor Purchase Agreement and the Director and Officer Purchase Agreement do not purport to be complete and  are
qualified in their entirety by reference to Exhibits 10.1 and 10.2, respectively.
The Company issued a press release announcing
the Registered Direct Offering, a copy of which is attached hereto as Exhibit 99.1.
Item 2.02 Results of Operations
and Financial Condition.
On May 8, 2012, the Company issued a press
release reporting its results of operations and financial condition for the quarter ended March 31, 2012, a copy of which is furnished
as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained in this Item
2.02, including information relating to Item 2.02 contained in Exhibit 99.1 attached hereto, is intended to be furnished and shall
not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act")
or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the
Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
The Exhibits included
as part of this Current Report on Form 8-K are listed in the Exhibit Index that follows. The Exhibit Index and the Exhibits listed
therein are incorporated herein by this reference.
(d) Exhibits
Exhibit
    No.
Description
5.1
Opinion of Pierce Atwood LLP
10.1
Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.
10.2
Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.
23.1
Consent of Pierce Atwood LLP (included in Exhibit 5.1)
99.1
Press Release, dated May 8, 2012.
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
May 8, 2012
By:
/s/ Robert Bosi
Name:
Robert Bosi
Title:
Chief Financial Officer
Exhibit Index
Exhibit No.
Description
5.1
Opinion of Pierce Atwood LLP
10.1
Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.
10.2
Securities Purchase Agreement, dated
    May 8, 2012, by and among TranSwitch Corporation and the Purchasers named therein.
23.1
Consent of Pierce Atwood LLP (included in Exhibit 5.1)
99.1
Press Release, dated May 8, 2012.