GlobalFoundries Files Registration Statement for Proposed Initial Public Offering

Rhea-AI Summary

GlobalFoundries has filed a registration statement on Form F-1 with the SEC for a proposed initial public offering (IPO) of its ordinary shares. The number of shares and price range are yet to be determined. The company aims to list its shares on the Nasdaq under the ticker symbol GFS. Leading banks such as Morgan Stanley, BofA Securities, and J.P. Morgan are involved as book-running managers. This IPO marks a significant step for GlobalFoundries, a key player in semiconductor manufacturing, enhancing its position in high-growth markets.

Positive

• GlobalFoundries is taking a significant step towards an IPO, indicating strong market confidence.
• The involvement of major financial institutions suggests a robust support network for the offering.

Negative

• The specifics of the offering, including the number of shares and pricing, are undetermined, leaving uncertainty for potential investors.

MALTA, N.Y., Oct. 4, 2021 /PRNewswire/ -- GlobalFoundries® (GF®), a global leader in feature-rich semiconductor manufacturing, today announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to the proposed initial public offering of its ordinary shares. The number of ordinary shares to be offered and the price range for the proposed offering have not yet been determined. GF has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol "GFS."

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup and Credit Suisse are acting as active book-running managers for the proposed offering. Deutsche Bank Securities, HSBC and Jefferies are acting as additional book-running managers for the proposed offering. Baird, Cowen, Needham & Company, Raymond James, Wedbush Securities, Drexel Hamilton, Siebert Williams Shank and IMI – Intesa Sanpaolo are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; BofA Securities, Inc., NC1-004-03-43, Attention: Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, NC 29255 or by email at dg.prospectus_requests@bofa.com.; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146 or by email at prospectus@citi.com; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, 3rd Floor, New York, NY 10010, by telephone at 800-221-1037 or by email at usa.prospectus@credit-suisse.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements
This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

About GF:
GlobalFoundries Inc. (GF) is one of the world's leading semiconductor manufacturers. GF delivers feature-rich solutions that enable its customers to develop innovative products for pervasive chips for high-growth markets. GF provides a broad range of feature-rich process technology solutions with a unique mix of design, development and fabrication services. With an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its customers across the globe.

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SOURCE Globalfoundries U.S. Inc.

FAQ

What is the ticker symbol for GlobalFoundries' IPO?

GlobalFoundries plans to list its shares on Nasdaq under the ticker symbol 'GFS'.

Who are the managers for GlobalFoundries' IPO?

Morgan Stanley, BofA Securities, J.P. Morgan, Citigroup, and Credit Suisse are acting as active book-running managers for the IPO.

What type of offering has GlobalFoundries filed for?

GlobalFoundries has filed for an initial public offering (IPO) of its ordinary shares.

When was the registration statement for GlobalFoundries' IPO filed?

The registration statement was filed on October 4, 2021.

Is the registration statement for GlobalFoundries' IPO effective?

No, the registration statement has been filed but has not yet become effective.