Collective Growth in its latest filing said the business combination agreement made last month with Innoviz Technologies calls for investors to purchase 20 million shares at $10 each following the merger, which would result in gross proceeds of $200 million.
The SPAC also entered into a PIPE agreement for an additional 3 million shares, which would generate an additional $30 million.
Total gross proceeds to the company from the sale of PIPE Shares is now expected to be $230 million.
The combined company is expected to have an estimated equity value of approximately $1.4 billion. Read more.
