AMD Announces $622M Investment by Mubadala Development Company

Posted: November 19, 2007 in Tech

AMD announced that it has received an investment from a wholly-owned subsidiary of Mubadala Development Company, a strategic investment and development company headquartered in Abu Dhabi, the capital of the United Arab Emirates (UAE). Mubadala invested approximately $622 million, receiving 49 million newly-issued shares at a price per share of $12.70, the closing price of AMD common stock on November 15, 2007.

AMD received approximately $608 million, after reimbursing Mubadala for approximately $14.6 million in expenses. AMD will use the net proceeds from the sale of the shares of common stock for general corporate purposes including accelerating its long-term, customer-focused growth strategy by investing in R&D, product innovations and manufacturing excellence.

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