GlobalFoundries Announces Pricing of Public Secondary Offering and Concurrent Share Repurchase

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GlobalFoundries, a leading semiconductor manufacturer, has announced the pricing of a secondary public offering of 20 million ordinary shares at $42 per share. The shares are being sold by the company's largest shareholder, Mubadala Technology Investment Company. Concurrently, GlobalFoundries will repurchase $300 million of its own shares from the underwriters as part of a previously approved $500 million share repurchase program.

Why it matters

This move allows GlobalFoundries' largest shareholder to partially cash out while the company buys back a significant portion of its outstanding shares. The share repurchase signals confidence in the company's future prospects and could help boost its stock price.

The details

The public offering is expected to close on March 13, 2026, subject to customary closing conditions. GlobalFoundries will not receive any proceeds from the sale of the shares by the Selling Shareholder. The share repurchase will be executed as part of the company's existing $500 million share repurchase authorization and will be funded with cash on its balance sheet.

• The public offering is expected to close on March 13, 2026.
• GlobalFoundries' Board of Directors approved the $500 million share repurchase program in February 2026.

What’s next

The closing of the share repurchase is conditioned on the closing of the public offering.