GlobalFoundries Announces Pricing of Public Secondary Offering and Concurrent Share Repurchase

About this update from Globalfoundries Inc.

[{"type":"text","content":"MALTA, N.Y., March 11, 2026 (GLOBE NEWSWIRE) -- GlobalFoundries (Nasdaq: GFS) (GF) today announced the pricing of a secondary public offering of 20,000,000 ordinary shares to the public at a price to the public of $42.00 per share and $300 million of ordinary shares to be repurchased by GF, as described below. All of the shares in the offering are being offered by Mubadala Technology Investment Company (the “Selling Shareholder”). The Selling Shareholder is a wholly owned subsidiary of Mubadala Investment Company PJSC (which, together with its affiliates, is GF’s largest shareholder). The Selling Shareholder has also granted the underwriters a 30-day option to purchase up to an additional 3,000,000 of GF’s ordinary shares (equal to 15% of the initial ordinary shares being sold to the public) at the public offering price minus underwriting discounts and commissions. The offering is expected to close on March 13, 2026, subject to customary closing conditions. GF is not selling any ordinary shares in the offering and will not receive any proceeds from the sale of the shares being offered by the Selling Shareholder. GF has agreed to concurrently repurchase from the underwriters $300 million of the Selling Shareholder’s ordinary shares at a price per share equal to the price paid by the underwriters in the offering (the “Share Repurchase”). The Share Repurchase will be executed as part of the $500 million share repurchase authorization approved by the Board of Directors of GF in February 2026. GF intends to fund the Share Repurchase with cash on its balance sheet. GF expects the closing of the Share Repurchase to occur substantially simultaneously with the closing of the offering. The closing of the Share Repurchase is conditioned on the closing of the offering. The closing of the offering is not conditioned on the closing of the Share Repurchase. The Share Repurchase is not contingent on any exercise of the underwriters’ option to purchase additional shares in the offering, and any such exercise will not have any impact on the amount or price of the Share Repurchase. The underwriters are not receiving any discount or commission with respect to the ordinary shares being repurchased by GF pursuant to the Share Repurchase. J.P. Morgan and Morgan Stanley are acting as lead book-running managers for the offering. BofA Securities, Citigro...

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