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Adam Eckert

Mobileye Global Stock Is Sliding Thursday: What's Going On?

Mobileye Mobileye Global MBLY Nasdaq Intel Corporation

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Mobileye Global Inc (NASDAQ:MBLY) shares are trading lower Thursday after the company announced a secondary offering of 50 million shares.

What Happened: Mobileye priced a secondary offering of 50 million shares by an Intel Corp (NASDAQ:INTC) subsidiary at $16.50 per share. The wholly owned Intel subsidiary, Intel Overseas Funding Corp, also granted the underwriters a 30-day option to purchase up to an additional 7.5 million shares of Mobileye Class A common stock.

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