By Laura Lutz
Des Moines, Nov. 16 - Advanced Micro Devices raised $622.3 million from a direct placement of stock with a subsidiary of Mubadala Development Co.
The United Arab Emirates-based investor bought 49 million shares at $12.70 each.
Proceeds will be used for general corporate purposes including investments in research and development, product innovations and manufacturing.
Advanced Micro Devices is a Sunnyvale, Calif.-based producer of integrated circuits.
| Issuer: | Advanced Micro Devices
|
| Issue: | Stock
|
| Amount: | $622.3 million
|
| Shares: | 49 million
|
| Price: | $12.70
|
| Warrants: | No
|
| Investor: | Subsidiary of Mubadala Development Co.
|
| Pricing date: | Nov. 16
|
| Stock symbol: | NYSE: AMD
|
| Stock price: | $12.70 at close Nov. 15
|
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