AMD Gets Final Approval For The Foundry Company

by Marco Chiappetta — Wednesday, February 18, 2009, 11:24 AM EDT

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.

Tags: AMD, Foundry, Abu Dhabi

Marco Chiappetta

Marco's interest in computing and technology dates all the way back to his early childhood. Even before being exposed to the Commodore P.E.T. and later the Commodore 64 in the early ‘80s, he was interested in electricity and electronics, and he still has the modded AFX cars and shop-worn soldering irons to prove it. Once he got his hands on his own Commodore 64, however, computing became Marco's passion. Throughout his academic and professional lives, Marco has worked with virtually every major platform from the TRS-80 and Amiga, to today's high end, multi-core servers. Over the years, he has worked in many fields related to technology and computing, including system design, assembly and sales, professional quality assurance testing, and technical writing. In addition to being the Managing Editor here at HotHardware for close to 15 years, Marco is also a freelance writer whose work has been published in a number of PC and technology related print publications and he is a regular fixture on HotHardware’s own Two and a Half Geeks webcast. - Contact: marco(at)hothardware(dot)com