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Stock offerings

Mobileye Global Inc. Announces Secondary Public Offering of Shares

Strategic Insights

— 1 min read

Mobileye Global Inc. (Nasdaq: MBLY) ("Mobileye") has announced the commencement of an underwritten secondary public offering of 45 million shares of Mobileye's Class A common stock by Intel Overseas Funding Corporation, a wholly owned subsidiary of Intel Corporation. The Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional 6.75 million shares of Mobileye's Class A common stock. This offering allows Mobileye to purchase $100 million of its Class A common stock at a price per share equal to the per share purchase price to be paid by the underwriters.

Key Takeaways:

  • Mobileye Global Inc. has announced a secondary public offering of 45 million shares of its Class A common stock by Intel Overseas Funding Corporation.
  • The Selling Stockholder has granted the underwriters a 30-day option to purchase an additional 6.75 million shares of Mobileye's Class A common stock.
  • Mobileye will purchase $100 million of its Class A common stock at a price per share equal to the per share purchase price paid by the underwriters.
  • The offering is not conditioned upon the closing of Mobileye's concurrent repurchase.
  • The Selling Stockholder has informed Mobileye of its plan to convert 50 million shares of its outstanding Class B common stock into 50 million shares of Class A common stock contingent on the closing of the offering.
  • Goldman Sachs & Co. LLC and BofA Securities, Inc. are acting as joint lead book-running managers for the proposed offering.
  • Mobileye has filed a registration statement with the SEC for the offering.

Statistics:

  • 45 million shares of Mobileye's Class A common stock will be offered by the Selling Stockholder.
  • An additional 6.75 million shares of Mobileye's Class A common stock is available for purchase by the underwriters.
  • Mobileye will purchase $100 million of its Class A common stock at a price per share equal to the per share purchase price paid by the underwriters.
  • Goldman Sachs & Co. LLC and BofA Securities, Inc. are joint lead book-running managers for the offering.

Sources:

  • Mobileye Global Inc. news release
  • Securities and Exchange Commission (SEC) website

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