Intel Prices $20 Bln Stock Offering At $95/shr

(RTTNews) - Intel Corp. (INTC), a semiconductor company, on Tuesday priced its previously announced common stock offering at $95 per share.

The company upsized the offering to $20 billion from $15 billion.

The offering is expected to close on August 12.

The company is offering 210.53 million shares of common stock and has granted underwriters a 30-day option to purchase up to an additional 31.58 million shares at the offering price.

The net proceeds are expected to be approximately $19.7 billion, assuming the underwriters do not exercise their option.

The company plans to use the proceeds for general corporate purposes, including capital expenditures and working capital.

In the pre-market trading, Intel Corp is 1.33% lesser at $96.22 on the Nasdaq.