GlobalFoundries has issued 9,907,399 common shares to the U.S. Department of Commerce at $37.85 apiece, putting the transaction at roughly $375 million.
According to a Form 6-K filing submitted on Sept. 8, the securities issuance agreement was signed on Sept. 3.
Transfer and voting restrictions
The agreement places transfer restrictions on the shares. One of them bars any private negotiated transfer to a competitor. In practice, that means the Commerce Department cannot privately sell its stake to another foundry.
Voting rights are restricted as well. U.S. government entities may not exercise voting rights attached to the shares, with two exceptions: matters that concern that class of shares itself, and merger deals.
F-3 filing due within six months
The agreement also sets out follow-up obligations for the issuer. GlobalFoundries must file a Form F-3 shelf registration statement with the U.S. Securities and Exchange Commission within six months and grant the Commerce Department piggyback registration rights. That would allow the department to request that its shares be included if the company conducts a future registered offering.
Taken together, those provisions preserve a route for the Commerce Department to sell the shares later while blocking a direct transfer to an industry peer.
Full agreement to appear in 2026 Form 20-F
The 6-K is a foreign issuer report and contains a summary of the key terms. GlobalFoundries said the full text of the agreement will be included in its annual report on Form 20-F for 2026.
Based on the offer price of $37.85 and 9,907,399 shares, the total deal value comes to about $375 million.