Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
GlobalFoundries Inc. (“GlobalFoundries” or the “Company”) (NASDAQ: GFS) recently completed an initial public offering of 60,748,006 shares of common stock, including the partial exercise of the underwriters’ option to purchase 5,748,006 additional shares, at a price of $47.00 per share, generating gross proceeds of approximately $2.9 billion. GlobalFoundries intends to use the net proceeds from the offering for general corporate purposes and growth capital.
GlobalFoundries is one of the world’s leading semiconductor foundries. The Company manufactures complex, feature-rich integrated circuits (“ICs”) that enable billions of electronic devices that are pervasive throughout nearly every sector of the global economy. With its specialized foundry manufacturing processes, a library consisting of thousands of qualified circuit-building block designs (known as intellectual property (“IP”) titles or IP blocks), and differentiated transistor and device technology, GlobalFoundries serves a broad range of customers, including the global leaders in IC design, and provides optimized solutions for the function, performance and power requirements of critical applications driving key secular growth end markets. As the only scaled pure-play foundry with a global footprint that is not based in China or Taiwan, the Company helps customers mitigate geopolitical risk and provide greater supply chain certainty. GlobalFoundries defines a scaled pure-play foundry as a company that focuses on producing ICs for other companies, rather than those of its own design, with more than $2 billion of annual foundry revenue. GlobalFoundries is headquartered in Malta, NY.
For additional information about this transaction, please contact: