Latham & Watkins Advises on GlobalFoundries’ US$2.6 Billion IPO

GlobalFoundries® (GF®), a global leader in feature-rich semiconductor manufacturing, has announced the pricing of its initial public offering of 55,000,000 ordinary shares, 30,250,000 of which are being offered by GF and 24,750,000 of which are being offered by GF’s existing shareholder, Mubadala Investment Company PJSC, at an initial public offering price of US$47 per share. In connection with the offering, Mubadala has granted the underwriters a 30-day option to purchase up to an additional 8,250,000 ordinary shares at the public offering price, less underwriting discounts and commissions. The shares will be traded on the Nasdaq Global Select Market under the ticker symbol GFS.

Latham & Watkins LLP represents the underwriters in the offering with a corporate deal team led by Bay Area partner Tad Freese and San Diego partner Matt Bush, with Bay Area corporate attorney Karen Eberle and Bay Area associate Raul Gonzalez and San Diego associates Julian Brody and Rachel Staub. Advice was also provided on data privacy matters by Bay Area counsel Robert Blamires and London counsel Danielle van der Merwe, with Bay Area associate Samantha Maerz-Boening and London associate Victoria Wan; on intellectual property matters by Bay Area partners Tony Klein and Rick Frenkel, with Bay Area associates Ryan Sanders and Caroline Omotayo; on tax matters by Los Angeles partner Sam Weiner, with Century City associate Ryan Brenner; on benefits and compensation matters by San Diego partner Holly Bauer, with Los Angeles associate Harrison Taylor; on export controls and sanctions matters by Washington, D.C. partner Eric Volkman, with Washington, D.C. associate Allison Hugi; and on environmental matters by Chicago partner Karl Karg.