Innoviz Reiterates Value Proposition In Open Letter To Shareholders
Portfolio Pulse from Happy Mohamed
Innoviz Technologies Ltd. (NASDAQ:INVZ) has issued an open letter to its shareholders following its recently-completed underwritten public offering of ordinary shares. The letter highlights the company's strong operational execution and recent customer wins. Innoviz is currently participating in over five active RFQ sourcing processes with major automotive OEMs. The company believes it is in a once-in-a-lifetime market share capture window for the automotive LiDAR industry and that the additional cash from the offering will increase its chances of securing further customer wins.
August 16, 2023 | 1:31 pm
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POSITIVE IMPACT
Innoviz Technologies has completed a public offering, bolstering its balance sheet and potentially increasing its chances of securing further customer wins in the automotive LiDAR industry.
The additional cash from the public offering will strengthen Innoviz's financial position, potentially making it more attractive to investors and increasing its chances of securing further customer wins. This could lead to increased demand for the company's shares, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100