Innoviz Prices $65M Upsized Public Offering Of 26M Ordinary Shares At $2.50/Share
Portfolio Pulse from Benzinga Newsdesk
Innoviz Technologies has priced its upsized public offering of 26 million ordinary shares at $2.50 per share, raising $65 million in total.
August 10, 2023 | 6:27 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Innoviz Technologies' upsized public offering could lead to a short-term decrease in its stock price due to the dilution of shares.
Innoviz Technologies has increased the size of its public offering, which means more shares are being sold. This typically dilutes the value of existing shares, which can lead to a decrease in the stock price in the short term. However, the raised capital could be used for beneficial company growth in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100