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Intel’s Mobileye Price at IPO At $21.00, Above Expected Range


The underwriters have a 30-day call option to purchase an additional 6.15 million shares of common stock.

A significant portion of the ~$0.8 billion net proceeds will be used to repay its parent company, Intel, and the remainder for working capital and general corporate purposes.

The self-driving unit will raise an additional $100 million through a private placement of 4.76 million shares of common stock at an initial offering price.

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

In December, some analysts speculated that Mobileye (MBLY) is worth $50 billion, but now it will be valued at around $16.7 billion. For comparison, Intel acquired the company for about $15.3 billion in 2017.

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