Mobileye bought back $100 million of its shares from an Intel unit as the unit’s offering of 57,500,000 shares closed on Jul 11, 2025

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Mobileye Global said in an 8-K filed on Jul 11, 2025 that it had bought 6,231,985 of its Class A shares that day from Intel Overseas Funding Corporation, at $16.04625 a share, for an aggregate consideration of $100 million. An 8-K is the report a US-listed company files to disclose an event; this one carried item 1.01 (a material agreement) and item 3.02 (shares issued without registration). Intel Overseas Funding Corporation was a wholly owned subsidiary of Intel and Mobileye’s majority stockholder. The repurchase price per share was equal to the price the underwriters paid in the offering, and the underwriters received no compensation on the repurchased shares.1^,2^,3^,4^,5^,6^,7^,8

The repurchase came with an underwritten secondary offering, a sale of existing shares by a holder. Mobileye, the Intel unit, Goldman Sachs & Co. LLC and BofA Securities signed an underwriting agreement dated Jul 9, 2025 for the offer of 57,500,000 Class A shares by the Intel unit to the public at $16.50 a share, and the offering closed on Jul 11. Mobileye sold no shares in it and received no proceeds from the shares the Intel unit sold.9^,5^,10^,11

Mobileye had announced the offering and the repurchase in an 8-K filed on Jul 8, 2025. That filing described a smaller offering, of 45 million shares, with a 30-day option for the underwriters on up to 6.75 million more, and a repurchase of $100 million of shares at the price the underwriters were to pay.12^,13^,14^,15

Also on Jul 11, the Intel unit converted 50 million shares of its Class B common stock into Class A shares under Mobileye’s charter. It had told Mobileye that it intended to hold the Class A shares at that time and that the conversion was solely to increase the number of Class A shares outstanding. The new shares were issued under an exemption from registration, and Mobileye received no proceeds from them.16^,17^,18^,19

On Jul 24, 2025, Mobileye issued a press release announcing its financial results for the quarter ended Jun 28, 2025, which it furnished in an 8-K.20^,21