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Mobileye Global has priced a secondary public offering of 50 million shares of Class A common stock, being sold by Intel Overseas Funding. The sale was previously disclosed and the shares will be sold through a combination of a primary offering by Mobileye and a secondary sale by Intel. The offering is expected to close on February 3, 2023.

Mobileye Global Inc. (Nasdaq: MBLY) has announced the pricing of a previously disclosed secondary public offering of 50 million shares of its Class A common stock. The sale, being conducted by Intel Overseas Funding Corporation, a wholly-owned subsidiary of Intel Corporation, is priced at $16.50 per share. The underwriters have also been granted a 30-day option to purchase up to an additional 7.5 million shares [1].

The offering is expected to close on July 11, 2025, subject to customary closing conditions. Concurrently with the closing of the offering, Mobileye has agreed to purchase 6,231,985 shares of its Class A common stock from the Selling Stockholder at a price per share equal to the per share purchase price in the offering. The concurrent repurchase was approved by Mobileye's disinterested directors not affiliated with the Selling Stockholder and is expected to be consummated concurrently with the offering. The offering is not conditioned upon the closing of the concurrent repurchase, but the repurchase is conditioned upon the closing of the offering [1].

Additionally, the Selling Stockholder has informed Mobileye of its plan to voluntarily convert an additional 50 million shares of its outstanding Class B common stock into Class A common stock, contingent on the closing of the offering. The Selling Stockholder intends to hold these shares of Class A common stock and the conversion is being effected solely to increase the number of shares of Class A common stock issued and outstanding. The offering is not conditioned upon the closing of the conversion, but the conversion is conditioned upon the closing of the offering [1].

Goldman Sachs & Co. LLC and BofA Securities are acting as joint lead book-running managers and representatives of the underwriters for the offering. Other participating underwriters include Citigroup, J.P. Morgan, Morgan Stanley, Barclays, BNP Paribas, Deutsche Bank Securities, Mizuho, RBC Capital Markets, TD Cowen, and Wells Fargo Securities. Academy Securities, COMMERZBANK, Credit Agricole CIB, Cabrera Capital Markets LLC, CastleOak Securities, L.P., C.L. King & Associates, and Mischler Financial Group, Inc. are acting as co-managers for the offering [1].

Mobileye has filed a registration statement with the SEC for the offering, which includes a preliminary prospectus supplement and accompanying prospectus. These documents are available on the SEC's website at www.sec.gov [1].

References:
[1] https://www.morningstar.com/news/business-wire/20250709615767/mobileye-announces-pricing-of-secondary-offering-of-shares-of-class-a-common-stock-concurrent-repurchase-and-conversion