Mobileye Global completed a $950 million secondary offering of shares of its Class A common stock. All of the shares were sold by Intel Overseas Funding Corporation, a wholly owned subsidiary of Intel Corporation.
Concurrent with the closing of the offering, Mobileye repurchased from Intel shares of Mobileye’s Class A common stock for $100 million. In addition, Intel voluntarily converted an additional 50 million shares of Mobileye’s outstanding Class B common stock into 50 million shares of Class A common stock.
The S&C team that advised the 19 underwriters, which were led by joint lead book-running managers Goldman Sachs & Co. LLC and BofA Securities, was led by John Savva and included Katya Roze, Bradford Olson and Conor Guest. Rachel Yu and Elizabeth Levin advised on intellectual property matters. Jeff Hochberg and Saul Brander advised on tax matters. Tracey Russell advised on FINRA matters.