GlobalFoundries Inc (GFS) has released an update.
GlobalFoundries Inc. has priced a secondary offering of $950 million in ordinary shares, including a $200 million share repurchase from the underwriters. The shares are offered by Mubadala Technology, GlobalFoundries’ major shareholder, with an additional purchase option for underwriters. The offering and share repurchase are expected to close on May 28, 2024, with the company funding the repurchase using its cash reserves.
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