InnovizAPP is a true technology breakthrough, offering an adaptable automotive-grade chip and platform
that can be incorporated into existing vehicles, said Omer Keilaf, CEO and Co-Founder of Innoviz. We developed it in response to requests from major automakers, and our customers in Asia,
Europe, and North America are already optimizing their AV programs with this platform, which is rapidly becoming the gold standard for customer validation.
Both the perception software and Innovizs solid-state LiDAR sensor, InnovizOne, are designed and developed to conform with the automotive
industrys highest standards and are being adopted by key industry leaders, including BMW.
This news follows Innovizs announcement on
December 11, 2020, that it entered into a definitive agreement with Collective Growth Corporation (NASDAQ: CGRO), which would result in Innoviz becoming a publicly listed company. The combined Company will retain the Innoviz
Technologies, Ltd. name, and its ordinary shares are expected to be listed on NASDAQ under the ticker symbol INVZ.
About Innoviz
Technologies Innoviz is a leading provider of technology that will put autonomous vehicles on roads, ultimately changing the world and making life better. Innoviz is the only company with LiDAR technology that can see better than a
human driver, while also meeting the automotive industrys strict requirements for performance, safety, and price. Selected by BMW for its fully electric iX autonomous car program, Innovizs technology will be the first to be deployed in
consumer vehicles. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, and others. For more
information, visit www.innoviz.tech
Forward Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between
Innoviz and Collective Growth, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the services offered by Innoviz and the markets in which it operates, and Innovizs projected future
results. 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 document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Collective Growths
securities, (ii) the risk that the transaction may not be completed by Collective Growths business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Collective Growth,
(iii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the business combination agreement by the shareholders of Collective Growth and Innoviz, the satisfaction of the minimum trust account
amount following redemptions by Collective Growths public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed
transaction, (v) the