Intel Puts Mobileye Share Sale on the Market

Intel has priced a secondary public offering of 50 million shares of Mobileye Global's Class A common stock. The shares are being sold by Intel Overseas Funding, a wholly owned subsidiary of Intel. The sale is part of a previously disclosed plan to monetize Intel's stake in Mobileye, a leading provider of advanced driver-assistance systems. The pricing of the offering was not disclosed.

Title: Intel Prices Secondary Offering of Mobileye Global Shares

Intel has priced a secondary public offering of 50 million shares of Mobileye Global Inc.'s Class A common stock. The shares are being sold by Intel Overseas Funding, a wholly owned subsidiary of Intel. The sale is part of a previously disclosed plan to monetize Intel's stake in Mobileye, a leading provider of advanced driver-assistance systems. The pricing of the offering was not disclosed.

The offering is expected to close on July 11, 2025, subject to customary closing conditions. Concurrent 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 to be paid by the underwriters in the offering. This repurchase was approved by the disinterested directors of Mobileye not affiliated with the Selling Stockholder and is expected to be consummated concurrently with the offering.

In addition, Intel Overseas Funding has informed Mobileye of its plan to voluntarily convert an additional 50 million shares of Mobileye's outstanding Class B common stock into 50 million shares of Class A common stock, contingent on the closing of the offering. 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.

Goldman Sachs & Co. LLC and BofA Securities are acting as joint lead book-running managers for the offering. Citigroup, J.P. Morgan, Morgan Stanley, Barclays, BNP Paribas, Deutsche Bank Securities, Mizuho, RBC Capital Markets, TD Cowen, and Wells Fargo Securities are acting as book-running managers for the offering. 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.

Mobileye has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (SEC) for the offering. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC's website. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and other documents Mobileye has filed with the SEC for more complete information about Mobileye and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.

References:
[1] https://www.businesswire.com/news/home/20250708376576/en/
[2] 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