Lightwave Logic Inc (LWLG)

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8/19/21
Global Foundries Reportedly Files For IPO, Suggesting Intel Acquisition Isn't In The Cards

Chip manufacturer that spun off from AMD years ago had reportedly been talking to Intel, but new report says it plans to go public instead Semiconductor manufacturer GlobalFoundries Inc. has reportedly filed confidentially for an initial public offering, which would suggest that talks about a merger with Intel Corp. could be done.
Reuters reported Wednesday afternoon (https://www.reuters.com/technology/exclusive-chipmaker-globalfoundries-files- confidentially-us-ipo-sources-2021-08-18/) that GlobalFoundries sent IPO paperwork to the Securities and Exchange Commission , with plans to seek a valuation of about $25 billion, according to unnamed sources. The company is expected to publicly reveal the filing in October, Reuters reported, but market conditions could change the timing.
The Wall Street Journal reported last month (https://www.wsj.com/articles/intel-is-in-talks-to-buy-globalfoundries- for-about-30-billion-11626387704) that GlobalFoundries and Intel (INTC) were discussing a potential merger as Intel looks to ramp up its direct manufacturing amid a semiconductor shortage. Sources told Reuters that GlobalFoundries was concerned that a tie-up with Intel would harm relations with other customers, and that Intel had not made a formal offer.