Intel raises $20 billion through stock issuance to fund manufacturing expansion plans
Intel Corporation raised $20 billion through an oversubscribed stock offering, seeking additional capital to support its manufacturing expansion. The offering was priced at $95 per share, representing a 2.6% discount to Intel's previous closing price. Intel sold 210.5 million shares of common stock and granted underwriters a 30-day option to purchase an additional 31.6 million shares. The company initially planned to raise $15 billion but subsequently increased the offering size. Intel stated that the proceeds would be used for general corporate purposes.
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