Innoviz shares surge on Nasdaq in first trading day after SPAC merger

Times of Israel | Apr 7, 2021 at 3:30 PM
  • Shares of Israel’s Innoviz Technologies, a maker of sensors for self-driving cars, rose 11% on the Nasdaq on its first day of trading on Tuesday, marking the first Israeli tech firm to complete a merger deal with a special purpose acquisition company.
  • Shares started trading on Tuesday after the business combination was approved by a stockholders’ meeting of Collective Growth on March 31.
  • Its flagship product, InnovizOne, is a 3D LiDAR sensor that is designed specifically for use in the automotive industry and for mass production.