GlobalFoundries, a global semiconductor designer and foundry based in the US, raised $2.6 billion by offering 55 million shares at $47, the high end of the range of $42 to $47. At pricing, the company commands a fully diluted market value of $26 billion.
GlobalFoundries states that it is one of the world's leading semiconductor foundries and the only scaled pure-play foundry with a global footprint that is not based in China or Taiwan, manufacturing complex, feature-rich integrated circuits (ICs) to serve a broad range of customers. The company has over 50 ecosystem partners spanning intellectual property (IP), electronic design automation, outsourced assembly, and test and design services. With an existing library of more than 4,000 IP titles, GlobalFoundries currently has more than 950 IP titles in active development across 26 process nodes and 34 IP partners. The company has been able to attract a large share of single-sourced products and long-term supply agreements, representing an aggregate lifetime revenue commitment of more than $19.5 billion. It has built strategic partnerships with a broad base of more than 200 customers as of December 31, 2020, which include Qualcomm, Advanced Micro Devices, and Samsung Electronics.
GlobalFoundries plans to list on the Nasdaq under the symbol GFS. Morgan Stanley, BofA Securities, J.P. Morgan, Citi, Credit Suisse, Deutsche Bank, HSBC, and Jefferies acted as lead managers on the deal.
