Tower Semiconductor has now received 85% of the investments committed to Fab 2.
Chipmaker Tower Semiconductor (Nasdaq: TSEM) announced today that it received $44.7 million, as part of the $305 million investment committed to the Fab 2 project by its partners. To date, the partners have invested $260.7 million.
Of the latest installment, $14.7 million was established as a credit to be applied against future wafer purchases from Fab 2 production. The remaining $30 million was established against 6.1 million Tower shares, at a price per share of $4.908, the average trading price at the last 30 trading days.
SanDisk Corporation (Nasdaq: SNDK), Alliance Semiconductor (Nasdaq: ALSC) and Macronix International (Nasdaq: MXICY) each received 1,344,829 shares; Israel Corporation- Technologies (ICTech) received 1,494,161 shares, QuickLogic - (Nasdaq: QUIK) 448,276 shares and The Challenge Fund - 149,416 shares.
Published by Globes [online] - www.globes.co.il - on 3 October, 2002