Israeli autonomous vehicle technology company Mobileye Global, Inc. will soon re-enter the public market, according to its S-1 filing with the SEC late Friday.

What happened: Mobileye said it will offer its Class A common stock in an IPO, or initial public offeringwithout mentioning the scope and prices of the offering, pursuant to the preliminary prospectus filed on Form S-1.

The company said it intends to use a portion of the net proceeds to pay down debt to its parent company. Intel Corporation INTC. The remainder, if any, would be used for working capital and general corporate purposes, he added.

Subsequent to initial public offering, the Company would have Class A and Class B common stock, both of which have the same rights for the holders except for voting rights, transfer and conversion. Each Class A share carries one vote compared to ten votes for the Class B share.

Goldman Sachs and Morgan Stanley will act as lead managers for the offering.

The Company has applied to list its shares on the Nasdaq under the ticker symbol “MBLY”.

See also: Is Mobileye’s IPO a Good Investment?

Why it matters: Headquartered in Jerusalem, Mobileye was founded in 1999 by a Hebrew University professor Amnon Shashua, who currently serves as the company’s CEO.

The company released its first-generation EyeQ1 processor in 2008, and subsequent versions were launched in 2010, 2014, and 2018.

The company first went public in 2014 and listed its shares on the NYSE. Less than three years later, Intel acquired it in a $15.3 billion deal. As Intel struggled to reverse its fortunes, it decided to divest the self-driving technology space to focus on its core business.

Intel announced in December 2021 that it plans to spin off Mobileye in an IPO while retaining a majority stake in the latter. A recent Bloomberg report suggested that Intel has done so lowered Mobileye’s IPO valuation from $50 billion to $30 billion.

Mobileye said in the S-1 filing that its 2021 sales grew 43% to $1.4…


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