As expected, AMD announced the closing of its fab spin-off transaction earlier this afternoon. The company has finalized deals with ATIC and the Mubadala Development Company, and it says The Foundry Company will reveal its final name and logo later this week.
As a result of the transaction, AMD comments that its "cash position" has improved by roughly $825 million: ATIC paid $700 million for the manufacturing assets, and Mubadala coughed up $125 million for AMD stock (as well as warrants for additional shares). Oddly, even though AMD only ended up with a 34.2% stake in The Foundry Company, the press release says the fab firm "will be consolidated with AMD for purposes of financial reporting." (AMD does have equal voting rights with co-owner ATIC, though.)
As AMD points out, The Foundry Company is now "the world's only U.S.-headquartered semiconductor foundry." The fab firm is purportedly worth about $4.3 billion in total—that includes $1.8 billion worth of AMD assets, a $1.4 billion investment from ATIC, and $1.1 billion of debt passed on from AMD. The Foundry Company will start off manufacturing AMD processors based on silicon-on-insulator tech, but in 2010, it should start producing AMD GPUs (and potentially other chips) using a 32nm bulk silicon process.