Deal Details

GlobalFoundries Completes $950 Million Follow-On Offering

Technology & Services

GlobalFoundries follow-on offering

Summary

GlobalFoundries Inc. (“GlobalFoundries” or the “Company”) (Nasdaq: GFS) recently completed an underwritten public offering of the Company’s common stock (the “Offering”). The aggregate size of the Offering was 18,719,211 shares, at a price of $50.75 per share, generating gross proceeds of $950.0 million. The offering consists entirely of secondary shares sold by Mubadala Technology Investment Company ("Mubadala" or the “Selling Shareholder”). The Selling Shareholder has granted underwriters a 30-day option to purchase an additional 2,216,748 of GlobalFoundries’ ordinary shares. GlobalFoundries will not receive any proceeds from the offering.

GlobalFoundries agreed to concurrently repurchase from the underwriters $200.0 million of the Selling Shareholder’s shares that are subject to the Offering at a price per share equal to the public offering price.

Baird served as a co-manager on this Offering.

About

GlobalFoundries is one of the world’s leading semiconductor manufacturers. The Company’s specialized foundry manufacturing processes, extensive library of qualified circuit-building block designs (known as IP titles or IP blocks) and advanced transistor and device technology allows them to serve a wide range of customers, including global leaders in IC design. GlobalFoundries focuses on providing optimized solutions for critical applications that drive key secular growth end markets, ensuring function, performance and power requirements are met. As the only scaled pure-play foundry with a global footprint that is not based in China or Taiwan, the Company offers their customers the advantage of mitigating geopolitical risk and ensuring greater supply chain certainty. GlobalFoundries is headquartered in Malta, New York.

Mubadala, a sovereign investor, manages a diverse portfolio of assets and investments in the United Arab Emirates and abroad, to generate sustainable financial returns for its shareholder, the Government of Abu Dhabi. Mubadala is headquartered in Abu Dhabi, United Arab Emirates.