Summary by Moomoo AI
GlobalFoundries Inc. (GlobalFoundries), a leading semiconductor foundry, announced a public offering of 18,719,211 ordinary shares by its selling shareholder, Mubadala Technology Investment Company (MTIC), a wholly owned subsidiary of Mubadala Investment Company PJSC (MIC). The shares are offered at a public offering price of $50.75 per share. GlobalFoundries will not sell any shares in this offering and will not receive any proceeds from the sale. Concurrently, GlobalFoundries intends to repurchase 3,940,886 ordinary shares from the underwriters at the public offering price, contingent upon the closing of the offering. The offering is not contingent on the share repurchase. The ordinary shares are listed on Nasdaq under the symbol 'GFS.' The underwriters expect to deliver the shares on or about May 28, 2024. The offering was detailed in a prospectus supplement dated May 22, 2024, under Rule 424(b)(7) with the U.S. Securities and Exchange Commission.