AMD offers $500 Million of its stock for sale.
Sunnyvale, Calif. — January 23, 2006 — AMD (NYSE: AMD) today announced that it intends to offer an aggregate of approximately $500 million of its common stock. AMD also intends to grant the underwriter a 30-day option to purchase an additional aggregate of approximately $75 million of its common stock to cover overallotments, if any.
Merrill Lynch & Co. will be the sole underwriter for this offering.
AMD intends to use approximately $226 million of the net proceeds from this offering to fund the redemption of up to 35% of the aggregate principal amount of its 7.75% Senior Notes due 2012 and the balance of the net proceeds for capital expenditures, working capital and other general corporate purposes, including the possible repayment of indebtedness.
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