By Laura Lutz
Des Moines, Nov. 16 - Advanced Micro Devices raised $622.3 million from a direct placement of stock with a subsidiary of Mubadala Development Co.
The United Arab Emirates-based investor bought 49 million shares at $12.70 each.
Proceeds will be used for general corporate purposes including investments in research and development, product innovations and manufacturing.
Advanced Micro Devices is a Sunnyvale, Calif.-based producer of integrated circuits.
Issuer: | Advanced Micro Devices
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Issue: | Stock
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Amount: | $622.3 million
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Shares: | 49 million
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Price: | $12.70
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Warrants: | No
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Investor: | Subsidiary of Mubadala Development Co.
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Pricing date: | Nov. 16
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Stock symbol: | NYSE: AMD
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Stock price: | $12.70 at close Nov. 15
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