U.S. Commerce Department to sell up to 9.9M GlobalFoundries shares

The U.S. Department of Commerce has filed a registration statement to sell up to 9,907,399 ordinary shares of GlobalFoundries Inc. (NASDAQ: GFS), according to a regulatory filing.

The Department of Commerce, listed as the selling shareholder, may transfer or assign some or all of the shares to third parties, who would then also become selling shareholders under the registration statement.

The filing indicates that shares may be offered or sold through underwriters, agents, or dealers. Specific terms of any offering, including price and the number of shares to be sold, will be detailed in supplements to the prospectus.

GlobalFoundries will not receive proceeds from the sale of shares by the selling shareholder.

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