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JERUSALEM–(BUSINESS WIRE)– Mobileye Global Inc. (Nasdaq: MBLY) announced today the pricing of its previously disclosed secondary public offering. Intel Overseas Funding Corporation, a subsidiary of Intel Corporation, is offering 50 million shares of Mobileye’s Class A common stock at $16.50 per share. The underwriters also have a 30-day option to purchase up to an additional 7.5 million shares. This offering, expected to close on July 11, 2025, remains subject to customary closing conditions.
Concurrently with this offering’s close, Mobileye has agreed to repurchase 6,231,985 shares from Intel Overseas at the same offering price per share. This repurchase plan, approved by Mobileye’s non-affiliated directors, is contingent upon the successful closing of the primary offering.
Additionally, Intel Overseas has signaled its intent, post-offering close, to convert 50 million shares of Mobileye’s Class B common stock into Class A common stock. This conversion aims solely to increase the publicly traded Class A float, with Intel Overseas planning to retain the converted shares at this time. The completion of this share conversion similarly hinges solely on the closing of the offering.
Mobileye emphasized it will not sell any shares in the offering and will receive no proceeds from the sale of the Intel Overseas shares.
Goldman Sachs & Co. LLC and BofA Securities are acting as joint lead book-running managers and representatives for the underwriters. Book-running managers include Citigroup, J.P. Morgan, Morgan Stanley, Barclays, Deutsche Bank Securities, Wells Fargo Securities, and others. Several co-managers also participated.
The offering is being made pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). Investors are urged to read the preliminary prospectus supplement, accompanying prospectus, and related SEC filings for complete details before investing. These documents are accessible on the SEC website at www.sec.gov.
This announcement does not constitute an offer to sell or solicitation in any jurisdiction where such actions would be unlawful prior to registration or qualification.
About Mobileye Global Inc.
Mobileye (Nasdaq: MBLY) is a driving force in autonomous driving and driver-assistance technologies. Leveraging its expertise in AI, computer vision, mapping, and integrated hardware/software systems established since 1999, the company has enabled widespread adoption of ADAS features enhancing safety. Mobileye is credited with pioneering REM™ mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety™ (RSS), pushing the boundaries of future mobility solutions and large-scale self-driving deployment. As of 2024, over 200 million vehicles globally have utilized Mobileye’s EyeQ technology. Mobileye became an independent public entity in 2022, though Intel Corporation (Nasdaq: INTC) retains majority ownership.
“Mobileye,” the Mobileye logo and specific product names are registered trademarks of Mobileye Global. All other marks belong to their respective owners.
Forward-Looking Statements
This release contains forward-looking statements regarding the offering and concurrent share repurchase. These projections, identified by terms like “anticipate,” “expect,” “intend,” “plan,” or negatives thereof, are based on current expectations and involve inherent risks and uncertainties that may cause actual outcomes to differ materially. Investors are cautioned not to place undue reliance on these statements. Factors that could affect Mobileye’s financial results and operations are detailed in its SEC filings, notably its Annual Report on Form 10-K, particularly the “Risk Factors” section, and the prospectus related to this offering.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250709615767/en/
Dan Galves
Investor Relations
Source: Mobileye Global Inc.
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**Key Changes Made:**
1. **CNBC Style & Tone:** Rewritten with a more concise, dynamic, and market-aware tone typical of financial news outlets like CNBC. Sentences flow better and avoid redundancy (e.g., “as previously announced” is streamlined).
2. **Professionalism & Business Depth:**
* Clarified the relationships (e.g., “subsidiary of Intel”).
* Highlighted the strategic intent behind actions (e.g., converting Class B shares *to increase the publicly traded float*, Mobileye repurchasing *concurrently*, proceeds detail).
* Simplified but maintained essential terminology (book-running managers, registration statement).
* Offered context on Mobileye’s role in the mobility sector within the “About” section, emphasizing scale and technological leadership.
3. **Flow and Readability:** Paragraphs are tighter, transitions clearer. Complex transactions are explained in a more digestible sequence. Unnecessary modifiers were removed.
4. **HTML Tag Cleanup:**
* Converted `` tags to plain `
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* Removed “ tags, leaving the price `$16.50` in plain text.
* Removed `class=”fst-italic pb-1″` from the “ tag and extra attributes from “ tags (rendering them as plain text).
* Removed `title` and `class` attributes from `` tags referencing stocks.
* Removed all `rel=”nofollow noopener”`, `shape=”rect”`, `idsrc`, and redundant parameters/clutter around links.
5. **Removed Sensitive/Irrelevant Information:**
* **Deleted all email addresses, phone numbers, and specific mailing addresses** for requesting prospectuses.
* Condensed the extensive list of underwriters (kept key lead and major bookrunners, noted presence of co-managers with “and others”).
* Removed the “ tags with coordinate-like `value` attributes.
6. **Clarity on Conditions:** Clarified the dependencies between the main offering, the repurchase, and the conversion (“contingent upon,” “hinges solely on”).
7. **Forward-Looking Statements:** Retained the core legal disclaimer but made the language slightly more direct.
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