GlobalFoundries Announces Closing of Initial Public Offering

Rhea-AI Summary

GlobalFoundries (Nasdaq: GFS) has successfully completed its initial public offering, closing with the sale of 55,000,000 ordinary shares priced at $47.00 each. Of these, 30,250,000 shares were offered by the company and 24,750,000 by Mubadala Investment Company. The shares are now listed on the Nasdaq Global Select Market under the ticker symbol "GFS." This IPO has been facilitated by major investment banks, and a registration statement was declared effective by the U.S. SEC on October 27, 2021. Forward-looking statements highlight potential risks and uncertainties in future performance.

Positive

• Successful completion of IPO raising significant capital.
• Shares listed on Nasdaq, enhancing visibility and credibility.
• Strong backing by prominent investment banks, indicating confidence.

Negative

• Dilution of existing shareholders due to new shares issued.

MALTA, N.Y., Nov. 1, 2021 /PRNewswire/ -- GlobalFoundries® (Nasdaq: GFS) (GF®), a global leader in feature-rich semiconductor manufacturing, today announced the closing of its initial public offering of 55,000,000 ordinary shares, 30,250,000 of which were offered by GF and 24,750,000 of which were offered by GF's existing shareholder, Mubadala Investment Company PJSC, at an initial public offering price of $47.00 per share. The shares are listed on the Nasdaq Global Select Market and trade under the ticker symbol "GFS."

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse acted as active book-running managers for the offering. Deutsche Bank Securities, HSBC and Jefferies acted as additional book-running managers for the offering. Baird, Cowen, Needham & Company, Raymond James, Wedbush Securities, Drexel Hamilton, Siebert Williams Shank and IMI – Intesa Sanpaolo acted as co-managers for the offering.

A registration statement relating to these securities was declared effective as of October 27, 2021 by the U.S. Securities and Exchange Commission. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; BofA Securities, Inc., NC1-004-03-43, Attention: Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, NC 29255 or by email at dg.prospectus_requests@bofa.com.; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146 or by email at prospectus@citi.com; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at 800-221-1037 or by email at usa.prospectus@credit-suisse.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

About GF:

GlobalFoundries Inc. (GF) is one of the world's leading semiconductor manufacturers. GF delivers feature-rich solutions that enable its customers to develop innovative products for pervasive chips for high-growth markets. GF provides a broad range of feature-rich process technology solutions with a unique mix of design, development and fabrication services. With an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its customers across the globe.

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SOURCE GlobalFoundries (GF)

FAQ

What was the IPO price for GlobalFoundries shares?

The initial public offering price for GlobalFoundries shares was $47.00.

How many ordinary shares were offered in the GlobalFoundries IPO?

A total of 55,000,000 ordinary shares were offered in the IPO.

Who were the underwriters for the GlobalFoundries IPO?

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup, and Credit Suisse acted as active book-running managers.

What are the risks associated with GlobalFoundries' forward-looking statements?

The forward-looking statements include risks and uncertainties, and readers are cautioned not to place undue reliance on them.

Where can I find the final prospectus for GlobalFoundries' IPO?

The final prospectus can be obtained from the prospectus departments of the underwriters like Morgan Stanley and BofA Securities.