GlobalFoundries Announces Pricing of Initial Public Offering

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GlobalFoundries (GF) has announced the pricing of its initial public offering (IPO) of 55,000,000 ordinary shares at $47.00 each. Of these, 30,250,000 shares are offered by GF, while 24,750,000 shares are from existing shareholder Mubadala Investment Company. The underwriters have a 30-day option to purchase an additional 8,250,000 shares. Trading on the Nasdaq under the symbol 'GFS' is set to begin on October 28, 2021, with the offering closing on November 1, 2021, subject to standard conditions.

MALTA, N.Y., Oct. 27, 2021 /PRNewswire/ -- GlobalFoundries® (GF®), a global leader in feature-rich semiconductor manufacturing, today announced the pricing of its initial public offering of 55,000,000 ordinary shares, 30,250,000 of which are being offered by GF and 24,750,000 of which are being offered by GF's existing shareholder, Mubadala Investment Company PJSC, at an initial public offering price of $47.00 per share. In connection with the offering, Mubadala has granted the underwriters a 30-day option to purchase up to an additional 8,250,000 ordinary shares at the public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market on October 28, 2021 under the ticker symbol "GFS." The offering is expected to close on November 1, 2021, subject to customary closing conditions.

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse are acting as active book-running managers for the offering. Deutsche Bank Securities, HSBC and Jefferies are acting 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 are acting 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 is being made only by means of a prospectus. Copies of the final prospectus relating to the offering, when available, 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 is the IPO price of GlobalFoundries shares?

The IPO price of GlobalFoundries shares is $47.00 per share.

How many shares are being offered in the GlobalFoundries IPO?

GlobalFoundries is offering 55,000,000 ordinary shares in its IPO.

When will GlobalFoundries shares start trading?

GlobalFoundries shares are expected to begin trading on the Nasdaq on October 28, 2021.

What is the ticker symbol for GlobalFoundries?

The ticker symbol for GlobalFoundries is 'GFS'.

When is the expected closing date for the GlobalFoundries IPO?

The expected closing date for the GlobalFoundries IPO is November 1, 2021.