AMD Intends To Offer Approximately $500 Million Of Its Common Stock

AMD Intends To Offer Approximately $500 Million Of Its Common Stock

AMD (NYSE: AMD) today announced that it intends to offer an aggregate of approximately $500 million of its common stock. AMD also intends to grant the underwriter a 30-day option to purchase an additional aggregate of approximately $75 million of its common stock to cover overallotments, if any. Merrill Lynch & Co. will be the sole underwriter for this offering.

AMD intends to use approximately $226 million of the net proceeds from this offering to fund the redemption of up to 35% of the aggregate principal amount of its 7.75% Senior Notes due 2012 and the balance of the net proceeds for capital expenditures, working capital and other general corporate purposes, including the possible repayment of indebtedness.

The public offering of AMD’s common stock will be made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, by contacting Merrill Lynch & Co. at 4 World Trade Financial Center, New York, New York 10080, telephone (212) 449-1000. A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Read the complete Press Release