Innoviz Technologies Ltd. (Innoviz), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, has announced the pricing of its upsized underwritten public offering of 26.0 million ordinary shares at a public offering price of US$2.50 per ordinary share. Innoviz has granted the underwriters an option to purchase up to 3.9 million additional ordinary shares at the public offering price less the underwriting discount and commissions. The total gross proceeds of the offering, before underwriters’ discounts and estimated offering expenses, will be US$65.0 million, excluding any exercise of the underwriters’ option to purchase additional ordinary shares. The offering is expected to close on August 14, 2023, subject to customary closing conditions.
Latham & Watkins LLP advised Innoviz in the transaction with a deal team led by Houston partners Ryan Lynch and Ryan Maierson and Tel Aviv/London partner Joshua Kiernan, with associates Clayton Heery, Ziyad Barghouthy, Brian Bruzzo, and Melanie von Staa Toledo. Advice was also provided on tax matters by New York partner Elena Romanova, with associate Abigail Friedman.