Intel sells off 1.18 million Arm shares to raise funds
On August 14th, it was reported that on August 13th, Intel disclosed in a regulatory filing that the company had cleared its 1.18 million shares of chip design company Arm in the second quarter, raising approximately $146.7 million. Earlier this month, Intel announced it would lay off more than 15% of its workforce. Since going public again, Arm's stock price has risen 146% from its initial public offering price of $51.
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