secwatch.observer — SEC 8-K summary
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Issuer:     MICRON TECHNOLOGY INC (MU)
CIK:        0000723125
Form:       8-K
Filed at:   2024-12-10T23:59:59+00:00
Accession:  0001104659-24-127174
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Micron secures up to $6.44B in CHIPS grants for Idaho, New York, and Virginia fabs
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- Micron Idaho awarded $1.5B grant for Boise fab; Micron New York awarded $4.6B for two fabs in Clay, NY.
- Additional $65M for workforce development; total CHIPS grants up to $6.44B including $275M Virginia PMT.
- Funding tied to construction/tool installation milestones; restrictions on dividends/repurchases for 5 years.
- Upside sharing payable if cumulative cash flow exceeds threshold at significant premium to baseline.
- Company elected not to pursue previously disclosed government loans for these projects.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723125/000110465924127174/0001104659-24-127174-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723125/000110465924127174/tm2430615d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-127174

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer