Innoviz Technologies (INVZ) Prices 28.78M Share Offering at $1.39/unit

Innoviz Technologies Ltd. (NASDAQ: INVZ) ("Innoviz"), a leading Tier-1 direct supplier of high-performance, automotive grade LiDAR sensors and perception software, today 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 $40.0 million, 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.

A registration statement on Form F-3 relating to the securities to be sold in the registered direct offering has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective on October 11, 2022. This registered direct offering is being made only by means of a prospectus. A copy of the prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, a copy of the prospectus supplement and the accompanying prospectus relating to this registered direct offering, when available, may be obtained from: WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA 90067, at (310) 843-9300 or [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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