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HomeNewsFinanceIntel's Mobileye prices IPO At $21.00, above expected range

Intel’s Mobileye prices IPO At $21.00, above expected range


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Underwriters have a 30-day option to purchase up to an additional 6.15M common shares.

The significant portion of net proceeds of ~$0.8B will be used for repayment on a note owed to its parent company, Intel and the remaining for working capital and general corporate purposes.

The self driving unit will raise additional $100M through private placement of 4.76M common shares at the initial offering price.

Mobileye went public in 2014. It was acquired by Intel in 2017. Intel currently owns 100% of Mobileye shares and is expected to retain majority ownership following the completion of the IPO.

In December, some analysts speculated that Mobileye (MBLY) was worth $50B, but now it will be valued around $16.7B. For comparison purposes, Intel bought the company for roughly $15.3B in 2017.

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