NXP Semiconductors N.V. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
$NXPI
Semiconductors
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 5, 2024
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Item 8.01 Other Events.
On June 5, 2024, NXP Semiconductors N.V. (the “Company”) and Vanguard International Semiconductor Corporation (“VIS”) announced the intention to create a manufacturing joint-venture which will build and operate a new 300mm semiconductor wafer manufacturing facility in Singapore. The joint venture will begin construction of the initial phase of the wafer fab in the second half of 2024, pending receipt of all required regulatory approvals, with initial production available to customers during 2027. The total cost of the initial build out is anticipated to be $7.8 billion. VIS will inject $2.4 billion representing a 60 percent equity position in the joint venture and NXP will inject $1.6 billion for the remaining 40 percent equity position. VIS and NXP have agreed to contribute an additional $1.9 billion which will be utilized to support the long-term capacity infrastructure. The remaining funding including loans will be provided by third parties to the joint venture. The fab will be operated by VIS.
A copy of the joint press release issued by the Company and VIS is attached as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated by reference herein.
Item 9.01 | Financial Statements and Exhibits. | ||||
(d) Exhibits | |||||
| 99.1 | |||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NXP Semiconductors N.V. | ||||||||
| By: /s/ Timothy Shelhamer | ||||||||
| Name: Timothy Shelhamer | ||||||||
| Title: SVP and Chief Corporate Counsel | ||||||||
Date: June 5, 2024