AMD, Abu Dhabi Investment Firm Funding Foundry CompanyFebruary 19, 2009
AMD and the Advanced Technology Investment Company secure final approval necessary to create new leading-edge semiconductor manufacturing company.
AUSTIN, TX -- AMD [NYSE: AMD] 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 (ATIC) of Abu Dhabi to create "The Foundry Company".
With the stockholder approval received, 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, TX.
Advanced Micro Devices (NYSE: AMD) is an innovative technology company dedicated to collaborating with customers and industry partners to ignite the next generation of computing and graphics solutions at work, home and play.
About The Foundry Company
The Foundry Company will be a U.S.-headquartered, leading-edge semiconductor manufacturing company created to address growing demand for independent, leading-edge foundry production capabilities. The Foundry Company will serve this need by combining advanced process technology, industry-leading manufacturing facilities and aggressive plans to scale capacity. The cornerstone of production for The Foundry Company will be industry-leading manufacturing facilities in Dresden, Germany with future plans to expand that campus as well as build a state-of-the art facility in Saratoga County, New York. Upon closing, The Foundry Company will have its principal headquarters in Silicon Valley; and its research and development and manufacturing leadership teams and ecosystems in New York, Dresden, and Austin.
The Advanced Technology Investment Company (ATIC) was created in 2008. A technology investment company wholly owned by the Government of Abu Dhabi, ATIC is focused on making significant investments in the advanced technology sector, both locally and internationally. Its mandate is to generate returns that deliver long-term benefits to the Emirate of Abu Dhabi.
ATIC seeks to leverage the unique advantages it enjoys as an investor from the Emirate of Abu Dhabi to identify and realize long-term investment opportunities in the highly competitive and capital-intensive advanced technology sector. These advantages include significant and reliable capital, a patient investment philosophy, and a subsequently long-term investment horizon.
Mubadala Development Company (Mubadala) is a Public Joint Stock Company headquartered in Abu Dhabi, capital of the United Arab Emirates. Its focus is on developing and managing an extensive and economically diverse portfolio of commercial initiatives. It does this either independently or in partnership with leading international organizations. Mubadala's commercial strategy is fundamentally built on long-term capital-intensive investments that deliver strong financial returns.
The company manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. Through its investment and development projects, Mubadala is both a catalyst for, and a reflection of, the drive for economic diversification of the Emirate of Abu Dhabi. Its impact is evident domestically and internationally in sectors such as energy, aerospace, real estate, healthcare, technology, infrastructure, and services.
Mubadala's sole shareholder is the Government of the Emirate of Abu Dhabi.
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