Mobileye, an Israeli provider of camera-based technology to avoid automobile collisions, announced terms for its IPO on Monday. The Jerusalem, Israel-based company plans to raise $500 million by offering 27.8 million shares (70% insider) at a price range of $17 to $19. At the midpoint of the proposed range, Mobileye would command a fully diluted market value of $4.2 billion.
Goldman Sachs (GS) is both the lead bookrunner and largest shareholder.
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.
