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Innoviz Technologies to Raise $30 Million From Registered Share Offering

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Innoviz Technologies (INVZ) said Tuesday it signed a definitive deal with certain institutional investors for the sale of about 66.7 million common shares for a total of approximately $30 million.

Closing of the registered direct offering is expected on or about Wednesday, and Innoviz said it plans to use the net proceeds for general business purposes, including the commercialization of Perciz.

Shares of Innoviz Technologies were down 29% in Tuesday morning trading.

Price: $0.45, Change: $-0.18, Percent Change: -28.98%

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