Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 23

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 23
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 may adversely affect the price of our securities. Adverse impact
to the market price of our securities may negatively impact our ability to raise new capital in order to finance our growth plans, obligations
and liabilities and/or re-finance our debt, and/or may cause us to receive less favorable terms than expected to the extent we will decide
to raise any capital.

We are a foreign private issuer and, as a result,
the public reporting and disclosure rules to which we are subject, and the corporate governance practices that we are permitted to follow,
may provide less protection to our investors than is accorded to investors under rules applicable to domestic U. S. issuers.

We report under the Securities Exchange Act of 1934, as amended
(the “ Exchange Act”) as a foreign private issuer, which means we are exempt from certain provisions of the Exchange Act that
are applicable to U. S. public companies, including the proxy rules and the rules requiring the filing with the U. S. Securities and Exchange
Commission (“ SEC”) of quarterly reports on Form 10-Q and current reports on Form 8-K. We furnish and intend to continue furnishing
information regarding our quarterly financial results to the SEC on Form 6-K for so long as we are subject to the reporting requirements
of Section 13(g) or 15(d) of the Exchange Act, although the information we furnish may not be the same as the information that is required
in quarterly reports on Form 10-Q for U. S. domestic issuers. In addition, foreign private issuers are not required to file their annual
report on Form 20-F until 120 days after the end of each fiscal year, while U. S. domestic issuers that are accelerated filers are required
to file their annual report on Form 10-K within 75 days after the end of each fiscal year and U. S. domestic issuers that are large accelerated
filers are required to file their annual report on Form 10-K within 60 days after the end of each fiscal year. Foreign private issuers
are also exempt from Regulation FD (Fair Disclosure), aimed at preventing issuers from making selective disclosures of material information,
and are not subject to Section 16, which requires an issuer’s directors and executive officers to file reports with the SEC regarding
their trading activity in the issuer’s securities within two business days of the transaction. Also, as a foreign private issuer,
we are permitted to follow certain home country corporate governance practices instead of those otherwise