Intel prices $19.7B follow-on offering at $97.52/share for capex and working capital

Filed August 12, 2026 · ~1 min read

Key Changes

• high

  Intel is offering 210.5 million shares at $97.52/share (the Aug 10 market price), raising $19.7B in net proceeds for general corporate purposes including capital expenditures and working capital.

  The Offering / Use of Proceeds view on EDGAR →
• high

  The U.S. government holds significant equity interests: 143 million shares in escrow under the Secure Enclave program and warrants for 241 million shares that become exercisable if Intel ceases to own at least 51% of its foundry business.

  Risk Factors verify on EDGAR →
• medium

  The government warrants are subject to anti-dilution adjustments for share issuances below 95% of the 15-day average market price, creating potential dilution tied to Intel's foundry ownership decisions.

  Risk Factors verify on EDGAR →