SiliconBeat

Advanced Micro Devices adjourned a special meeting of its stockholders intended to let them vote on its plan to spin-off its manufacturing plants into a separate entity as part of an investment from the Abu Dhabi government.

The vote was to take place this morning at the Hilton Austin Airport in Texas because the company didn’t have enough  shares present at the meeting to establish the quorum necessary for the voting to take place.

The company said that as of today “approximately 42% of those shares have been voted, with approximately 97% of votes cast in favor of issuing the additional shares and warrants.” The vote has been rescheduled for Feb. 18, giving the company additional time to solicit enough proxies to hold the vote.

Under the terms of the deal, Abu Dhabi will buy a stake in a new company that will own two AMD plants in Germany and build another in New York. The new business, which will assume $1.2 billion of AMD’s debt, will receive as much as $6 billion from Abu Dhabi to expand the factories and get $1.4 billion in operating capital. Abu Dhabi is also increasing its holding of AMD stock, according to a Bloomberg report.