Cleary Gottlieb is representing GlobalFoundries (GF), a global leader in feature-rich semiconductor manufacturing, which announced the pricing of its initial public offering pricing of 55 million ordinary shares, 30.25 million of which are being offered by GF and 24.75 million of which are being offered by GF’s existing shareholder, Mubadala Investment Company PJSC (Mubadala), at an initial public offering price of $47 per share.
In connection with the offering, Mubadala has granted the underwriters a 30-day option to purchase up to an additional 8.25 million ordinary shares at the public offering price, less underwriting discounts, and commissions.
GF filed its Form F-1 with the U.S. Securities and Exchange Commission on October 4, 2021, and the offering launched on October 19, 2021. 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.
For more information, please see the press release here.