AMD, Fujitsu selling Spansion shares

November 17, 2006 – AMD and Fujitsu, former JV owners of flash memory device maker Spansion Inc. and now two of the company’s larger shareholders, are offering a total of 35 million shares of Spansion stock, about 27% of Spansion’s total outstanding shares, for a total of $48.75 million.

Spansion said it plans to use proceeds of the sale for capital expenditures, working capital and general corporate purposes.

The announcement on Thursday represented a 2% discount to the Wednesday closing price of Spansion shares. AMD currently owns about 38% of Spansion, with Fujitsu about 25%.


Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.