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The chipmaker priced 210 million shares at $95 each, up from a $15 billion offering announced the day before
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Intel $INTC upsized its previously announced common stock offering to $20 billion on Tuesday, pricing 210,526,315 shares at $95 per share as it looks to fund expansion of its chip contract manufacturing business.
The offering was increased from the $15 billion target Intel had announced on Monday. The deal is expected to close on August 12, the company said, and is expected to generate net proceeds of approximately $19.7 billion after underwriting discounts, commissions, and estimated offering expenses. Intel has also granted underwriters a 30-day option to purchase up to 31,578,947 additional shares at the offering price.
