GlobalFoundries in $840 Million Secondary Offering and $300 Million Share Repurchase

Cleary Gottlieb is representing GlobalFoundries Inc. (GlobalFoundries), as issuer, and Mubadala Technology Investment Company, as selling shareholder, in a secondary public offering of $840 million GlobalFoundries ordinary shares and an approximately $300 million share repurchase.

The selling shareholder has also granted the underwriters an option to purchase up to an additional $126 million ordinary shares.

The selling shareholder is a wholly owned subsidiary of Mubadala Investment Company PJSC (which, together with its affiliates, is GlobalFoundries’ largest shareholder). All of the shares are being offered by the selling shareholder, and GlobalFoundries will not receive any proceeds from the offering.

GlobalFoundries has agreed to repurchase approximately $300 million of the selling shareholder’s ordinary shares that are subject to the offering at a price per share equal to the price paid by the underwriters.

The offering priced on March 11, 2026, and is expected to close on March 13, 2026, subject to customary closing conditions.

J.P. Morgan and Morgan Stanley are acting as bookrunning managers for the offering.

GlobalFoundries is one of the world’s leading semiconductor manufacturers, delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets.

For more information, please see the press release.

The Cleary corporate team included partners Adam Fleisher, Shuangjun Wang, and Mohamed Taha, and associates Rawad Abou Jaoude, Katherine Hebb, Dylan Sanders, Omelebele (Bele) Edeoga, and Kay Hechaime, with assistance from law clerk Crystal Lee. Partner Matthew Brigham and associate Samuel Kramer advised on tax matters, with support from law clerk Jiyoung (Reina) Kim. Partner Samuel Chang and associates Catherine Johnson and Alexi Stocker advised on sanctions and trade controls matters. Associates Jaehwan Park and Francesca Huth advised on cybersecurity and data privacy matters. Partner Beau Sterling and associate Madison Bush advised on environmental matters. Associate Annie Cowell advised on UK regulatory matters. Associate Ben Rosenblum advised on Investment Company Act matters, with support from law clerk Nicholas Gekakis.