Innoviz Announces $60M Public Offering Of Ordinary Shares
Portfolio Pulse from Happy Mohamed
Innoviz Technologies Ltd. (NASDAQ:INVZ) has announced a public offering of $60 million of its ordinary shares. The company also intends to grant the underwriters an option to purchase up to an additional $9 million of its ordinary shares. The proceeds from the offering will be used for general corporate purposes. Goldman Sachs & Co. LLC is the lead book-runner for the offering.
August 09, 2023 | 9:07 pm
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Innoviz Technologies is offering $60 million of its ordinary shares to the public. This could potentially dilute the value of existing shares, but also provide the company with additional capital for corporate purposes.
Public offerings often lead to a short-term decrease in stock price due to dilution of shares. However, the additional capital can be used for growth and expansion, which could potentially lead to long-term gains.
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