Mobileye prices secondary offering at $16.50 per share

Mobileye Global Inc. (NASDAQ: MBLY) announced the pricing of a secondary offering of 50 million shares of Class A common stock at $16.50 per share. Intel Overseas Funding Corporation, a wholly owned subsidiary of Intel Corporation, is selling the shares as the selling stockholder.

The underwriters have a 30-day option to purchase up to an additional 7.5 million shares. The offering is expected to close on July 11, 2025, subject to customary closing conditions.

Concurrent with the offering's closing, Mobileye will repurchase 6,231,985 shares of its Class A common stock from the selling stockholder at the same price paid by underwriters. The repurchase was approved by disinterested directors not affiliated with the selling stockholder.

The selling stockholder plans to convert an additional 50 million shares of Class B common stock into Class A common stock, contingent on the offering's closing. The conversion aims to increase the number of outstanding Class A shares, with the selling stockholder intending to hold these converted shares.

Mobileye will not sell any shares in the offering and will not receive proceeds from the sale. Goldman Sachs & Co. LLC and BofA Securities serve as joint lead book-running managers, with Citigroup, J.P. Morgan, Morgan Stanley, Barclays, BNP Paribas, Deutsche Bank Securities, Mizuho, RBC Capital Markets, TD Cowen and Wells Fargo Securities acting as book-running managers.

The company has filed a registration statement with the SEC for the offering. Intel retains majority ownership of Mobileye, which has been listed independently since 2022.

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