Arm Holdings (ARM): key facts about the highly anticipated IPO
Arm Holdings (NYSE: ARM) has today disclosed additional details regarding its highly anticipated Initial Public Offering (IPO). Here are key things to know:
- The company will be offering American Depositary Shares (ADS), with each ADS representing the right to one ordinary share
- Arm has filed for 95,500,000 share offering at $47-$51 per ADS.
All ADSs in this offering are currently owned by a selling shareholder, and Arm Holdings is not selling any ADSs or receiving proceeds from the sale.
- SoftBank Group Corp. is expected to own 90.6% of outstanding ordinary shares post-offering, potentially making Arm Holdings a "controlled company" under Nasdaq rules.
- "Cornerstone Investors" - namely AMD (NASDAQ: AMD), Apple (NASDAQ: AAPL), Cadence Design Systems (NASDAQ: CDNS), Google (NASDAQ: GOOG, GOOGL), Intel Corporation (NASDAQ: INTC), MediaTek, Nvidia (NASDAQ: MVDA), TSMC, Synopsys (NYSE: SNPS) and Samsung - have expressed interest in purchasing up to $735 million of ADSs at the IPO price, but these indications are non-binding.
- Barclays, Goldman Sachs, J.P. Morgan and Mizuho will serve as lead underwriters.