Mobileye Global shares are trading lower after the company announced the pricing of a previously announced underwritten secondary public offering of 38.5 million shares for $42 per share.
Portfolio Pulse from Benzinga Newsdesk
Mobileye Global announced the pricing of a previously announced underwritten secondary public offering of 38.5 million shares at $42 per share, causing its shares to trade lower.
June 08, 2023 | 7:36 pm
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Mobileye Global's shares are trading lower after pricing its secondary public offering of 38.5 million shares at $42 per share.
The announcement of the pricing of Mobileye Global's secondary public offering at $42 per share has led to a decline in its share price. This is because the market perceives the offering as dilutive, increasing the number of shares outstanding and potentially reducing the value of existing shares.
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