Arm Holdings (ARM) has today disclosed additional details regarding its highly anticipated Initial Public Offering (IPO). Here are key things to know:
- The company will be offering American Depositary Shares (ADS), with each ADS representing the right to one ordinary share
- Arm has filed for 95,500,000 share offering at $47-$51 per ADS.
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All ADSs in this offering are currently owned by a selling shareholder, and Arm Holdings is not selling any ADSs or receiving proceeds from the sale.
- SoftBank Group Corp. (TYO:9984) is expected to own 90.6% of outstanding ordinary shares post-offering, potentially making Arm Holdings a "controlled company" under Nasdaq rules.
- "Cornerstone Investors" - namely AMD (NASDAQ:AMD), Apple (NASDAQ:AAPL), Cadence Design Systems (NASDAQ:CDNS), Google (NASDAQ:GOOGL), Intel Corporation (NASDAQ:INTC), MediaTek (TW:2454), Nvidia (NASDAQ:NVDA), TSMC (TW:2330), Synopsys (NASDAQ:SNPS) and Samsung (KS:005930) - have expressed interest in purchasing up to $735 million of ADSs at the IPO price, but these indications are non-binding.
- Barclays (LON:BARC), Goldman Sachs (NYSE:GS), J.P. Morgan, and Mizuho will serve as lead underwriters.