AMD Gets Final Approval For The Foundry Company
AMD and the Advanced Technology Investment Company Secure Final Approval Necessary to Create New Leading-Edge Semiconductor Manufacturing Company
- AMD stockholders approve additional stock, warrants to Mubadala Development Company -
- Parties committed to transaction close, expected by March 2, 2009 -
AUSTIN, Texas - Feb. 18, 2009 - AMD [NYSE: AMD]today announced that its stockholders approved a proposal to issue common stock and warrants to an affiliate of Mubadala Development Company PJSC, paving the way for AMD and the Advanced Technology Investment Company of Abu Dhabi to create “The Foundry Company”.With the stockholder approval received today, all closing conditions for the creation of “The Foundry Company” manufacturing joint venture have been met, and the transaction is expected to close by March 2, 2009.
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.