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Update: Intel Offers $15 Billion of Common Stock; Shares Decline

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(Updates to include Intel's stock movement in the headline and first paragraph.)

Intel (INTC) shares were down more than 4% in Monday trading after the company said it is offering $15 billion of common stock in a public offering, the proceeds of which will go toward general corporate purposes, including capital expenditures and working capital.

The company said it expects to grant underwriters a 30-day option to purchase up to an additional $2.25 billion of common stock at the public offering price.

J.P. Morgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS) and Citigroup (C) are acting as joint book-running managers.

Price: $97.10, Change: $-4.55, Percent Change: -4.48%

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