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Mobileye Global (NASDAQ:MBLY) announced the pricing of a previously disclosed secondary public offering of 50 million shares of its Class A common stock.
The shares are being sold by Intel Overseas Funding, a wholly owned subsidiary of Intel (NASDAQ:INTC), at $16.50 per share.
The selling stockholder has also granted underwriters 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.
In addition, Mobileye has agreed to repurchase 6,231,985 shares of its Class A common stock from the seller at the same $16.50 per share price, with the repurchase set to occur concurrently with the offering’s closing.
As previously announced, the seller has also informed Mobileye of its intention to voluntarily convert 50 million shares of Mobileye’s outstanding Class B common stock into an equal number of Class A shares. This conversion is contingent upon the successful closing of the offering.
Source: Press Release
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