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Innoviz Technologies and Collective Growth Corporation Announce Closing of Business Combination


Innoviz Technologies and Collective Growth Corporation Announce Closing of Business Combination
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TEL AVIV, Israel and AUSTIN, Texas, April 5, 2021 /PRNewswire/  
Innoviz Technologies, a technology leader of high-performance, solid-state LiDAR sensors and perception software, and Collective Growth Corporation (NASDAQ: CGRO) today announced the completion of their previously announced business combination. The combined company will retain the Innoviz Technologies, Inc. name, and its ordinary shares and warrants are expected to commence trading on Nasdaq under the ticker symbols INVZ and INVZW on April 6, 2021. The business combination was approved at a special meeting of Collective Growth s stockholders held on March 31, 2021. ....

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Innoviz Technologies, a Global Leader in LiDAR Sensors and Perception Software for Autonomous Driving, to be Listed on Nasdaq Through Business Combination with Collective Growth Corporation


Innoviz Technologies, a Global Leader in LiDAR Sensors and Perception Software for Autonomous Driving, to be Listed on Nasdaq Through Business Combination with Collective Growth Corporation
USA - English
- Innoviz Technologies Ltd. ( Innoviz ) to become publicly listed through business combination with Collective Growth Corporation (NASDAQ: CGRO) ( Collective Growth ) in a transaction sponsored by Antara Capital LP and Perception Capital Partners LLC
- Transaction is expected to provide up to $350 million in gross proceeds comprised of Collective Growth s $150 million of cash held in trust, assuming no redemptions by public stockholders, and a $200 million fully committed ordinary share PIPE at $10.00 per share, led by Antara Capital and includes strategic investments from Magna International, Innoviz s Tier-1 partner, Phoenix Insurance and other institutional investors ....

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