Innoviz Tech skids on pricing stock deal

Innoviz Technologies

10/08/2023 11:13

** U.S.-listed shares of Innoviz Technologies  INVZ.O  down
17.2% to six-week low $2.60 premarket after Israel-based lidar
sensor maker's follow-on prices
    ** Co late Weds said sold 26 mln shares at $2.50 raising $65
mln for general purposes
    ** Offering size boosted from $60 mln, priced at 20.4%
discount to last sale
    ** Goldman Sachs lead bookrunner for offering, joined by
Cantor Fitzgerald and Berenberg
    ** Innoviz has ~136.3 mln shares outstanding, per Refinitiv
data
    ** Stock had fallen past five sessions and is down 20% YTD
through Weds close

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))