Intel files prospectus supplement to register potential resale of shares and warrant

Intel Corporation (NASDAQ:INTC) announced Friday that it has filed a prospectus supplement with the Securities and Exchange Commission to register the potential resale by the United States Department of Commerce of a warrant and up to 673,839,150 shares of Intel’s common stock. The filing is related to a Warrant and Common Stock Agreement dated August 22, 2025, between Intel and the Department of Commerce.

The registered securities include a warrant to purchase up to 240,516,150 shares of Intel’s common stock at an initial exercise price of $20.00 per share, 274,583,000 shares issued to the Department of Commerce, 158,740,000 shares issued into escrow for the Department of Commerce subject to certain escrow conditions, and up to 240,516,150 shares issuable upon exercise of the warrant.

Intel stated that the filing of the resale prospectus supplement does not itself constitute a sale of securities by the Department of Commerce, nor does it indicate that the Department will choose to sell any shares or the warrant. The company also noted that it would not receive any proceeds from any sale of these securities by the Department of Commerce.

No securities will be issued or sold by Intel under the resale prospectus supplement. The filing was made under Intel’s automatic shelf registration statement on Form S-3ASR, previously filed with the SEC.

Intel included a legal opinion as to the validity of the shares and the warrant as part of this filing. This information is based on a press release statement included in the company’s report to the SEC.

In other recent news, Intel Corporation has received significant financial backing from the U.S. government, with a total of $11.1 billion in support. This includes an $8.9 billion equity investment, resulting in the issuance of 433 million new shares, giving the government a 10% stake in the company. This funding is composed of $5.7 billion from CHIPS Act grants and $3.2 billion from the Secure Enclave program. Additionally, Intel has amended its Direct Funding Agreement with the U.S. Department of Commerce, lifting several prior obligations and restrictions related to federal support under the CHIPS Act.

Intel’s Chief Financial Officer, David Zinsner, confirmed the receipt of the $5.7 billion CHIPS Act grants at a recent tech conference. TF International Securities analyst Ming-Chi Kuo noted that while the U.S. government’s investment stabilizes Intel’s valuation, it does not necessarily enhance its technological prospects. KeyBanc has maintained its Sector Weight rating on Intel’s stock amid these developments. Howard Lutnick defended the government’s investment in Intel, emphasizing its alignment with capitalist principles.

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