AMD shareholders have approved a deal that will create The Foundry Company, a spin-off manufacturing company that will make AMD’s chipsets and GPUs in the near future.
The whole deal should close very early next month, with AMD giving the new company two fabrication facilities in Dresden, Germany. AMD will own just over 44 percent of The Foundry Company, with the rest held by Advanced Technology Investment Company of Abu Dhabi; a technology investment company wholly owned by the Government of Abu Dhabi and an affiliate of the Mubadala Development Company PJSC.
“AMD stockholders approved a proposal to issue (i) 58 million shares of the company’s common stock and warrants to purchase 35 million shares of its common stock and (ii) 35 million shares of the company’s common stock upon exercise of those warrants to an affiliate of the Mubadala Development Company PJSC, on the terms described in the proxy statement related to the Special Meeting of Stockholders that was held today in Austin, Texas.”
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