Intel CEO Lip-Bu Tan Invests $12 Million of His Own Money in Company's $20 Billion Stock Offering

3-line summary

• Intel CEO Lip-Bu Tan and one family member agreed to purchase a combined $12 million of Intel shares as part of the company's stock offering, according to a prospectus supplement filed with the SEC, per a Yahoo Finance report.
• Intel priced 210,526,315 shares at $95 each, increasing the offering to $20 billion from the $15 billion announced a day earlier, and granted underwriters a 30-day option to purchase an additional 31,578,947 shares.
• The capital raise follows Intel's second-quarter results, in which revenue reached $16.13 billion, up 25% year over year, with adjusted earnings of 42 cents per share topping Wall Street expectations.

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