Innoviz Technologies announces pricing of $40M registered direct offering

Innoviz Technologies (INVZ) announced that it has entered into a definitive securities purchase agreement with certain institutional investors for the purchase and sale of 28,776,978 units at a purchase price of $1.39 per unit, with each unit consisting of one ordinary share and eight tenths of a warrant to purchase one ordinary share. The warrants will be immediately exercisable at $1.69 per share and will expire five years from the date of issuance. The ordinary shares and warrants are immediately separable and will be issued separately. The offering is expected to close on February 11, 2025, subject to customary closing conditions. The total gross proceeds of the offering are expected to be approximately $40M, before placement agent fees and estimated offering expenses and assuming no exercise of any warrants. Innoviz intends to use the proceeds that it will receive from the offering for general business purposes. WestPark Capital, Inc. is acting as the sole placement agent for the offering.