TEL
AVIV, Israel, Jan. 2, 2025
/PRNewswire/ -- Innoviz Technologies Ltd. (Nasdaq: INVZ) (the
"Company" or "Innoviz"), a leading Tier-1 direct supplier of
high-performance, automotive-grade LiDAR sensors and perception
software, today announced that it received formal written
confirmation from The Nasdaq Stock Market, LLC ("Nasdaq")
confirming that the Company has regained compliance with Nasdaq's
minimum bid price requirement.
The regaining of compliance is a result of the Company's closing
bid price of the Company's ordinary shares (the "Shares") being at
least $1.00 for at least 10
consecutive business days prior to January
27, 2025 deadline, as described in the initial
notice from Nasdaq to the Company dated July
30, 2024.
The closing bid price of the Shares has been at $1.00 per Share or greater for 10 consecutive
business days from December 16 to December
30, 2024. Accordingly, Nasdaq Listing Qualifications Staff
has notified the Company that it has determined that the Company
has regained compliance with Nasdaq Listing Rule 5550(a)(2), and
the matter is now closed.
About Innoviz
Innoviz is a global leader
in LiDAR technology, serving as a Tier-1 supplier to
the world's leading automotive manufacturers and working towards a
future with safe autonomous vehicles on the world's roads.
Innoviz's LiDAR and perception software "see" better than a
human driver and reduce the possibility of error, meeting the
automotive industry's strictest expectations for performance and
safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected
by internationally recognized premium car brands for use in
consumer vehicles as well as by other commercial and industrial
leaders for a wide range of use cases. For more information,
visit innoviz.tech.
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Twitter
Media Contact
Media@innoviz-tech.com
Investor Contact
Investors@innoviz-tech.com
Forward Looking Statements
This announcement contains certain forward-looking statements
within the meaning of the federal securities laws, including
statements regarding the listing of the Company's shares on Nasdaq
and our ability to regain compliance with applicable Nasdaq rules..
These forward-looking statements generally are identified by the
words "believe," "project," "expect," "anticipate," "estimate,"
"intend," "strategy," "future," "opportunity," "plan," "may,"
"should," "will," "would," "will be," "will continue," "will likely
result," and similar expressions.
Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
announcement. You should carefully consider such risk and the other
risks and uncertainties described in Innoviz's annual report on
Form 20-F filed with the SEC on March 12,
2024 and other documents filed by Innoviz from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Innoviz assumes no obligation and
does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise. Innoviz gives no assurance that it will achieve its
expectations.
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SOURCE Innoviz Technologies