Cleary Gottlieb with GlobalFoundries and Mubadala
Cleary Gottlieb advised GlobalFoundries, as issuer, and Mubadala Technology Investment Company, as selling shareholder, in a $950 million secondary public offering of GlobalFoundries ordinary shares, including a $200 million share repurchase.
About the offering
The selling shareholder has also granted the underwriters an option to purchase up to an additional $112.5 million of the ordinary shares. The selling shareholder is a wholly owned subsidiary of Mubadala Investment Company (which, together with its affiliates, is GlobalFoundries’ largest shareholder). The offering priced on May 22, 2024, and closed on May 28, 2024, subject to customary closing conditions.
Morgan Stanley and BofA Securities are acting as bookrunning managers for the offering.
Cleary Gottlieb’s team
The Cleary corporate team included partners David Lopez (pictured left), Gamal Abouali (pictured centre), and Adam Fleisher (pictured right), senior attorney David Parish, associates Shuangjun Wang, Nalin Bawa, Ashley Miller, Misthura Otubu, Taewan Roh, and Chetna Beriwala, and law clerks Katherine Hebb and David Rubinstein.
Partner Bill McRae and associate Samuel Kramer advised on tax matters. Chase Kaniecki (partner) and senior attorney Jim Corsiglia advised on sanctions and trade controls matters. Daniel Ilan (partner), senior attorney Brendan Cohen, and associate Samantha Simmons advised on cybersecurity and data privacy matters. Beau Sterling (partner) and Madison Bush (associate) advised on environmental matters. Partner Chrishan Raja and associates Ilya Nekrasov and Paola Stratta advised on UK regulatory matters. Amber Phillips (partner) and Anna Bintinger (associate) advised on Investment Company Act matters.
GlobalFoundries
Founded in 2009, GlobalFoundries is amongst the world’s leading semiconductor manufacturers, delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets.
