Mobileye offers to sell 45M shares of common stock for holders

Mobileye (MBLY) “announced the commencement of an underwritten secondary public offering of 45 million shares of Mobileye’s Class A common stock by Intel Overseas Funding Corporation, a wholly owned subsidiary of Intel Corporation (INTC). The Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional 6.75 million shares of Mobileye’s Class A common stock. In addition, Mobileye has agreed to purchase from the Selling Stockholder $100 million of Mobileye’s Class A common stock at a price per share equal to the per share purchase price to be paid by the underwriters in the offering. The concurrent repurchase was approved by the disinterested directors of Mobileye not affiliated with the Selling Stockholder. Goldman Sachs & Co. LLC and BofA Securities, Inc. are acting as joint lead book-running managers for the proposed offering.”