Collision avoidance solutions developer Mobileye has increased the amount of money it plans raising in its NYSE IPO later this week. The company has now filed to raise over $600 million by offering 27.8 million shares at a price range of $21 to $23.
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Only last week, Mobileye filed to offer 27.8 million shares at a range of $17 to $19. At the midpoint of the revised higher range, it will now raise 22% more than it previously proposed, raising its company valuation to $5.2 billion.
Mobileye’s first quarter revenue was $35.6 million, 204% more than in the first quarter of 2013. The company 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.