Self-driving sensor startup Innoviz completes SPAC merger with Collective Growth Corp for USD1.4 billion
Business combination provides Innoviz with approximately USD371 million in gross proceeds comprised of Collective Growth's cash in trust and a PIPE led by strategic investors
Innoviz Technologies, the Israeli provider of solid-state lidar sensors and perception software, has completed its merger with Texas-based special purpose acquisition company (SPAC) Collective Growth Corporation and will begin trading under the ticker symbols INVZ and INVZW at a valuation of USD1.4 billion.
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