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Latham & Watkins Advises Innoviz in Proposed US$1.4 Billion Merger with Collective Growth Corp.

December 11, 2020
A Latham team is advising the LiDAR company on the SPAC transaction that will make Innoviz a publicly traded company.

Innoviz Technologies, a technology leader of high-performance, solid-state LiDAR sensors and perception software, has announced it has entered into a definitive agreement to merge with Collective Growth Corporation (NASDAQ: CGRO) in a transaction sponsored by Antara Capital LP and Perception Capital Partners LLC. The transaction is supported by a US$200 million fully committed common stock PIPE led by Antara Capital and includes strategic investments from Magna International, Innoviz’s Tier-1 partner. Upon completion of the transaction, the combined Company will retain the Innoviz Technologies, Ltd. name and is expected to be listed on NASDAQ under the ticker symbol “INVZ.”

Latham & Watkins LLP represents Innoviz Technologies in the transaction with a corporate deal team led by Houston partner Ryan Maierson and London partner Joshua Kiernan, with Houston associates Ryan Lynch, Erin Lee, and Katie Walker. Advice was also provided on tax matters by Washington, D.C. partner Nicholas DeNovio, with associate Eli McCrain; on intellectual property matters by New York partner Jeffrey Tochner, with associate Meredith Ward; on antitrust matters by Washington, D.C. partner Jason Cruise, Frankfurt partner Max Hauser and Washington, D.C. counsel Peter Todaro; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; on compliance matters by Washington, D.C. partner Les Carnegie and London partner Nathan Seltzer, with Washington, D.C. associate Andrew Galdes; on environmental matters with Houston partner Joel Mack and Los Angeles counsel Joshua Marnitz, and on data privacy matter Washington, D.C. counsel Marissa Boynton.