Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 29

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 29
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, and mergers and certain transactions requiring shareholders’ approval under the Companies
Law. In addition, a controlling shareholder of an Israeli company or a shareholder who knows that it possesses the power to determine
the outcome of a shareholder vote or who has the power to appoint or prevent the appointment of a director or officer of the company or
has other powers toward the company has a duty of fairness toward the company. However, Israeli law does not define the substance of this
duty of fairness. There is little case law available to assist in understanding the implications of these provisions that govern shareholder
behavior. These provisions may be interpreted to impose additional obligations and liabilities on holders of our ordinary shares that
are not typically imposed on shareholders of U. S. corporations.

ITEM
4. INFORMATION ON THE COMPANY

A. HISTORY AND DEVELOPMENT OF THE COMPANY

We are a pure-play independent specialty foundry, and as such we
are dedicated to providing high-value, high-quality, processed wafers to our customers for their end products and end users. Our foundry
processes use chemical materials, chemical processes and other materials and equipment on silicon wafers, based on the design specifications
of our customers. As a pure-play foundry, we do not offer products of our own. We currently offer process technology geometries
of 0.35, 0.18, 0.16 and 0.13 -micron on 200-mm wafers and 65 nanometer on 300-mm wafers. We also provide design support and complementary
technical services. Our customers and/or our customers’ customers use our wafers in their end products, which are sold and/or used
in diverse markets, including consumer applications, personal computers, communications, handsets and smartphones, automotive, industrial,
aerospace and medical devices.

We are focused on establishing leading market share in high-growth
specialized markets by providing our customers with high-value, high quality, wafer foundry services. We use standard analog CMOS process
technology, as well as specialized specific technologies including CMOS image sensors, non-imaging sensors, micro-electromechanical systems
(MEMS), wireless antenna switch Silicon-on-Insulator (SOI), mixed-signal, radio frequency CMOS (RFCMOS), bipolar CMOS (BiCMOS), and silicon-germanium
BiCMOS (SiGe BiCMOS or SiGe), silicon photonics, including silicon and advanced low-loss silicon nitride