Maybe I misread intels sec filings on the matter. Or maybe they have changed. But based on my readings and a confirmation from ChatGPT , the dept of commerce got warrants for intel stock that can only be exercised if intel sell 50 pct of its foundry.
In that event they can get intel shares.
If within 5 yrs , intel does not , the dept of commerce gets nothing.
In all cases Intel gets all its promised chips act money if they live up to that agreement.
Hey Mark that's correct, USG can take an additional 5% of Intel stock at ~$20 per share if Intel sells over 50% of foundry business, in addition to the ~433m (10%) shares Intel agreed to immediately issue the Commerce Department.
Maybe I misread intels sec filings on the matter. Or maybe they have changed. But based on my readings and a confirmation from ChatGPT , the dept of commerce got warrants for intel stock that can only be exercised if intel sell 50 pct of its foundry.
In that event they can get intel shares.
If within 5 yrs , intel does not , the dept of commerce gets nothing.
In all cases Intel gets all its promised chips act money if they live up to that agreement.
Anyone else read it differently
Hey Mark that's correct, USG can take an additional 5% of Intel stock at ~$20 per share if Intel sells over 50% of foundry business, in addition to the ~433m (10%) shares Intel agreed to immediately issue the Commerce Department.