Innoviz Regains Compliance with Nasdaq's Minimum Bid Price Requirement
Rhea-AI Summary
Innoviz Technologies (Nasdaq: INVZ), a Tier-1 supplier of automotive-grade LiDAR sensors and perception software, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received formal confirmation from Nasdaq after maintaining a closing bid price of at least $1.00 per share for 10 consecutive business days from December 16 to December 30, 2024, meeting the January 27, 2025 deadline set in the initial notice dated July 30, 2024.
This development resolves the compliance issue raised by Nasdaq Listing Rule 5550(a)(2), and the matter has been officially closed by Nasdaq Listing Qualifications Staff.
Positive
- Regained Nasdaq listing compliance, eliminating risk of delisting
- Maintained share price above $1.00 for required period
- Successfully resolved compliance issue ahead of January 27, 2025 deadline
Negative
- Previous trading below $1.00 minimum bid requirement indicates recent stock price weakness
News Market Reaction – INVZ
In the trading session that priced this news, INVZ gained 7.14%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
The closing bid price of the Shares has been at
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
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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