Innoviz Technologies Ltd (INVZ): Seeking Alpha

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Tuesday, 04/06/2021 8:02:48 PM

Tuesday, April 06, 2021 8:02:48 PM

Seeking Alpha - Lidar sensor company Innoviz makes public debut after SPAC merger, Apr. 06, By: Brandy Betz, SA News

- Shares of lidar sensor company Innoviz (INVZ) are up 5.6% heading toward the closing bell of its first day of trading following the reverse merger with SPAC Collective Growth (NASDAQ:CGRO). But the ticker change-based movement isn't as notable as the first-day performance for a traditional IPO.
- The merger provided Innoviz with $371M in proceeds.
Yesterday, Innoviz announced the ramp up towards high-volume production for its InnovizOne solution, which will serve BMW series production and other customers.
- The company will also continue with the introduction of next-gen lidar sensor InnovizTwo.
- Innoviz is the firth lidar company to go public through a SPAC merger, following Velodyne Lidar (VLDR +13.0%), Luminar Technologies (LAZR -0.1%), Ouster (OUST +2.4%), and Aeva (AEVA -1.5%).
- The SPAC debut of lidar peer AEye is still pending.

Link: https://seekingalpha.com/news/3679638-lidar-sensor-company-innoviz-makes-public-debut-after-spac-merger?utm_source=stck.pro&utm_medium=referral