Mubadala Prices 20 Million GlobalFoundries Shares at $42 in Secondary Sale
The company will not receive proceeds, with a $300 million repurchase planned contingent on the sale’s closing.
Overview
- All shares are being sold by Mubadala Technology Investment Company, and GlobalFoundries is not selling stock or receiving proceeds.
- GlobalFoundries agreed to repurchase $300 million of shares from the underwriters, funded with cash and executed under a $500 million authorization approved in February 2026.
- The offering is expected to close on March 13, 2026, subject to customary conditions, and the repurchase will close concurrently only if the sale closes.
- The selling shareholder granted underwriters a 30-day option to buy up to 3 million additional shares at the offering price minus fees.
- GlobalFoundries shares fell about 5% after the pricing, which came at a discount to the recent $44.09 trading level; J.P. Morgan and Morgan Stanley lead the underwriting syndicate.