GlobalFoundries Inc (GFS) has released an update.
GlobalFoundries Inc. has announced a secondary offering of $950 million of its ordinary shares, which includes a concurrent share repurchase of $200 million. The shares are being offered by Mubadala Technology Investment Company, GlobalFoundries’ largest shareholder, with an additional purchase option for underwriters. Proceeds from the share offering will not go to GlobalFoundries, but they plan to use their cash reserves to buy back shares at the offering price.
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