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Classified in: Transportation, Science and technology, Business
Subject: OFR

Innoviz Announces Public Offering of Ordinary Shares


TEL AVIV, Israel, Aug. 9, 2023 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) ("Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, today announced that it has commenced an underwritten public offering of $60.0 million of its ordinary shares. Innoviz intends to grant the underwriters an option to purchase up to an additional $9.0 million of its ordinary shares at the public offering price less the underwriting discount and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering. Innoviz intends to use the net proceeds that it will receive from the offering for general corporate purposes.  

Innoviz Technologies Logo

 

Goldman Sachs & Co. LLC is acting as lead book-runner and representative of the underwriters for the offering. Cantor and Berenberg are acting as passive book-runners for the offering. Rosenblatt is acting as co-manager for the offering.]

A registration statement on Form F-3 relating to the ordinary shares to be sold in the proposed offering has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective on October 11, 2022. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, a copy of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by e-mail at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Innoviz

Innoviz is a global leader in LiDAR technology, serving as a Tier 1 supplier to the world's leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of the federal securities laws, including statements regarding the completion, timing and size of the proposed offering, the grant of the option to the underwriters to purchase additional ordinary shares and the intended use of the proceeds. Forward-looking statements represent Innoviz's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including the trading price and volatility of Innoviz's ordinary shares and risks relating to Innoviz's business and, if the offering is priced, risks related to the satisfaction of closing conditions in the underwriting agreement related to the offering. Innoviz may not consummate the proposed offering described in this press release and, if the proposed offering is consummated, cannot provide any assurances regarding the final terms of the offer. The forward-looking statements included in this press release speak only as of the date of this press release, and Innoviz does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.

Media Contact
[email protected]

Investor Contact (US)                                                               
Rob Moffatt                                                                                      
VP, Corporate Development & IR                                                  
Innoviz Technologies                                                                       
+1 (203) 665-8644                                                                        
[email protected] 

Investor Contact (Israel
Maya Lustig
Director, Investor Relations
Innoviz Technologies
+972 54 677 8100
[email protected]

Logo - https://mma.prnewswire.com/media/1496323/Innoviz_Technologies_Logo.jpg

SOURCE Innoviz Technologies


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