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Intel Prices $20 Billion Stock Sale at $95 a Share…
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FinanceFeeds
The company said early Tuesday that it priced 210,526,315 shares of common stock at $95 each.
Intel also granted the underwriters a 30-day option to purchase up to 31,578,947 additional shares at the same $95 offering price, which could increase the total amount raised further.
Intel said the proceeds will be used for general corporate purposes, including possible capital expenditures and working capital.
Intel entered Monday seeking $15 billion and had expanded the transaction by one-third before the next U.S. trading session began.
The $95 offering price was about 6.5% below Intel’s $101.65 closing price on Friday, the final session before the original deal was announced.