Tower Semiconductor Receives $13.4M for Fab 2
Tower Semiconductor Ltd. (Migdal Haemek, Israel) announced that it has received $13.4 million of the aggregate $305 million investment committed to the Fab 2 project by Tower's partners. Tower distributed shares to SanDisk, Alliance Semiconductor, Macronix International, Israel Corporation-Technologies and the Challenge Fund to raise the money.
To date, the wafer and financial partners have invested about $274 million out of the $305 million committed, according to the company. In addition, the partners participated in Tower's October 2002 rights offering and invested $20.4 million. In total, Tower reported that its wafer and financial partners have invested about $294 million to date.