Car tech company Mobileye increases IPO range; deal size increased 22% to $611 million

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Mobileye, an Israeli provider of camera-based technology to avoid automobile collisions, raised the proposed deal size for its upcoming IPO on Tuesday. The Jerusalem, Israel-based company now plans to raise $611 million by offering 27.8 million shares (70% insider) at a price range of $21 to $23. The company had previously filed to offer 27.8 million shares at a range of $17 to $19. At the midpoint of the revised range, it will raise 22% greater proceeds than previously anticipated; its proposed fully diluted market cap increased 23% to $5.2 billion.

Mobileye, which was founded in 1999 and booked $105 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol MBLY. Goldman Sachs, Morgan Stanley, Deutsche Bank, Barclays and Citi are the joint bookrunners on the deal. It is expected to price later this week.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: MBLY

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