GlobalFoundries Secondary Offering Closes, No Proceeds for Company
Ticker: GFS · Form: 6-K · Filed: May 28, 2024 · CIK: 1709048
Sentiment: neutral
Topics: secondary-offering, shareholder-activity, divestment
TL;DR
GF offering closed at $50.75, Mubadala sold all shares, GF gets $0.
AI Summary
On May 28, 2024, GlobalFoundries Inc. announced the closing of its underwritten secondary offering of 18,719,211 ordinary shares. The offering price was $50.75 per share, and all shares were sold by Mubadala Technology Investment Company, meaning GlobalFoundries Inc. will not receive any proceeds. The transaction also included a share repurchase of 3,940,886 ordinary shares.
Why It Matters
This secondary offering indicates a significant divestment by a major shareholder, Mubadala Technology Investment Company, which could impact the company's ownership structure and future strategic decisions.
Risk Assessment
Risk Level: medium — The sale of a large block of shares by a major shareholder could signal concerns or strategic shifts, potentially impacting investor confidence and stock price.
Key Numbers
- 18.7M — Shares Offered (Total number of ordinary shares in the secondary offering.)
- $50.75 — Offering Price (Price per share for the secondary offering.)
- $0 — Proceeds to GF (GlobalFoundries Inc. received no proceeds from this secondary offering.)
Key Players & Entities
- GlobalFoundries Inc. (company) — Company filing the report and involved in the secondary offering.
- Mubadala Technology Investment Company (company) — Selling shareholder in the secondary offering.
- 18,719,211 (dollar_amount) — Number of ordinary shares offered in the secondary offering.
- 3,940,886 (dollar_amount) — Number of ordinary shares repurchased by the company.
- $50.75 (dollar_amount) — Price per share in the secondary offering.
- May 28, 2024 (date) — Date the secondary offering closed.
FAQ
Who was the selling shareholder in the secondary offering?
Mubadala Technology Investment Company was the selling shareholder.
What was the closing date of the secondary offering?
The secondary offering closed on May 28, 2024.
How many shares were offered in the secondary offering?
18,719,211 ordinary shares were offered.
Did GlobalFoundries Inc. receive any proceeds from the offering?
No, GlobalFoundries Inc. will not receive any proceeds from the secondary offering as all shares were offered by the selling shareholder.
What was the price per share for the offering?
The price to the public was $50.75 per share.
Filing Stats: 405 words · 2 min read · ~1 pages · Grade level 12.1 · Accepted 2024-05-28 16:01:29
Key Financial Figures
- $50.75 — he public in the Secondary Offering was $50.75 per share. All of the shares were offer
Filing Documents
- globalfoundries-6k.htm (6-K) — 12KB
- exhibit11-6xk.htm (EX-1.1) — 282KB
- 0001628280-24-025403.txt ( ) — 295KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. GLOBALFOUNDRIES Inc. Date May 28, 2024 By s John Hollister Name John Hollister Title Chief Financial Officer