Davis Polk Advised Mobileye On $948 Million Secondary Offering And $100 Million Share Repurchase

Davis Polk Advised Mobileye On $948 Million Secondary Offering And $100 Million Share Repurchase

Davis Polk advised Mobileye Global Inc. on its SEC-registered secondary offering of 57,500,000 shares of Class A common stock by a subsidiary of Intel Corporation as the selling stockholder, raising approximately $948 million in total gross proceeds, including 7,500,000 shares purchased pursuant to the full exercise of the underwriter’s option to purchase additional shares. Davis Polk also advised Mobileye on a concurrent $100 million share repurchase from the selling stockholder.

Mobileye is a leader in autonomous driving and advanced driver-assistance technologies, known for its expertise in artificial intelligence, computer vision, mapping, and integrated software and hardware solutions. Since its founding in 1999, Mobileye’s technology has been integrated into over 200 million vehicles globally. The shares of Class A common stock are listed on the Nasdaq Global Select Market under the symbol “MBLY.”

The Davis Polk team was led by Michael Kaplan (Partner), with support from Christopher H. Van Buren (Counsel) and Walker Halstad (Associate). Tax advice was provided by William A. Curran (Partner), Aliza Slansky (Partner), and Fred Fu (Associate). All team members are based in the New York office.

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