It will be previously allocated, but it will still contain paid grants of $ 5.7 billion according to the Chips Law. This money must be given without exchange in the company, but now they are now transformed into stocks at a price of $ 20.47. For comparison: Intel shares closed at $ 24,80 on Friday, but they were traded under $ 20 at the beginning of the month.
The transaction also included $ 2.2 billion by Intel’s CHIPS law and $ 3.2 billion within the scope of the Secure Enclave program. As a result, the US government will have 9.9% of Intel shares, but will not take a place in the Management Council and will not receive special rights for the company’s management. In addition, the authorities promised voting according to the suggestions of Intel leadership.
Within the scope of this program, the question of whether other companies receiving state support have to sell shares of the state is clear.
Source: Ferra
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