TEL AVIV, Israel, Jan. 2, 2025 -- 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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