GlobalFoundries Launches $950 Million Secondary Public Stock Offering; Shares Fall After Hours-February 2024-www.financetom.com

GlobalFoundries Launches $950 Million Secondary Public Stock Offering; Shares Fall After Hours

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GlobalFoundries Launches $950 Million Secondary Public Stock Offering; Shares Fall After Hours

May 22, 2024 2:35 PM

05:03 PM EDT, 05/22/2024 (MT Newswires) -- GlobalFoundries ( GFS ) said Wednesday it launched a $950 million secondary public offering of ordinary shares.

Mubadala Technology Investment is the selling shareholder and plans to give underwriters a 30-day option to buy up to $112.5 million in additional shares, GlobalFoundries ( GFS ) said.

GlobalFoundries ( GFS ) isn't selling any shares in the offering and won't receive any proceeds.

The company plans to repurchase up to $200 million in shares in the offering from the underwriters.

Mubadala Technology Investment is a subsidiary of Mubadala Investment, which, together with its affiliates, is GlobalFoundries' ( GFS ) largest shareholder.

GlobalFoundries ( GFS ) shares fell 5.8% in recent after-hours activity.

Price: 52.00, Change: -3.21, Percent Change: -5.81

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