I think you may be wrong but I'm not sure. I trashed my red herring from the Rambus IPO years ago but I remember reading that Intel was subscribing to either 1 million or 10 million shares of Rambus at the IPO price.
No, he's right. Intel would have the right to obtain 4 million shares of Rambus at $10/share if Intel's production of Rambus became 20% of Intel's revenue by a certain date(can't remember the date). As I recall, the 4 million shares was post split. Art.
I still say I was impressed at the time the Rambus red herring came out by the fact that Intel had a major position pre offering. My mind still remembers 10 million. Call me old but don't call me an Alzheimers guy. In any event, I'm absolutely sure that Intel was clearly shown in the Rambus IPO prospectus as a major backer and stockholder.
As an aside, I was a broker then and got an allocation of 650 shares. I gave them to my clients who flipped them the first day. Can't remember at what prices but I know it was in the 60 + area. Those were the good old days ..... LOL
No, he's correct. Intel never had ANY shares of Rambus. And the provisions of the contract that would have given them warrants for 4% ownership of Rambus never became exerciseable, and were completely removed from the revised agreement.
Intel has NO ownership or equity interest of any kind in Rambus.