Innoviz Technologies Ltd.
(NASDAQ:INVZ) stock fell Tuesday after the lidar technology company announced a $30 million registered direct offering of ordinary shares to institutional investors.
Registered Direct Offering Details The company said it entered into a definitive agreement to sell an aggregate of 66.7 million ordinary shares.
The offering is expected to generate gross proceeds of about $30 million before expenses.
Innoviz said it plans to use the net proceeds for general corporate purposes, including supporting the commercialization of Perciz, its dedicated security and defense brand.
