Intel Corp (NASDAQ:INTC) CEO Lip-Bu Tan is investing $12 million of his own capital in the chipmaker’s newly upsized $20 billion stock offering, a move that Futurum Group CEO Daniel Newman sees as a strong vote of confidence.
Lip-Bu Tan Invests $12 Million in Intel Stock Offering According to a prospectus supplement filed with the Securities and Exchange Commission Wednesday, Tan and one family member agreed to purchase a combined $12 million of Intel shares as part of the offering.
Intel priced 210,526,315 shares at $95 each on Tuesday, increasing the offering to $20 billion from the $15 billion announced a day earlier and granting underwriters a 30-day option to purchase an additional 31,578,947 shares.
Newman highlighted Tan’s investment on X, writing that "Lip Bu Tan investing $12 million of his own capital into the current $INTC raise should be viewed as a strong sign of confidence in Intel’s future." "I always love to see founders and execs put their own risk capital into deals," Newman added.
Lip Bu Tan investing $12 million of his own capital into the current $INTC raise should be viewed as a strong sign of confidence in Intel’s future.
