AEVA - Lidar sensor company Innoviz makes public debut after SPAC merger

Shares of lidar sensor company Innoviz (INVZ) are up 5.6% heading toward the closing bell of its first day of trading following the reverse merger with SPAC Collective Growth (CGRO). But the ticker change-based movement isn't as notable as the first-day performance for a traditional IPO.The merger provided Innoviz with $371M in proceeds.Yesterday, Innoviz announced the ramp up towards high-volume production for its InnovizOne solution, which will serve BMW series production and other customers.The company will also continue with the introduction of next-gen lidar sensor InnovizTwo.Innoviz is the firth lidar company to go public through a SPAC merger, following Velodyne Lidar ([[VLDR]] +13.0%), Luminar Technologies ([[LAZR]] -0.1%), Ouster ([[OUST]] +2.4%), and Aeva ([[AEVA]] -1.5%).The SPAC debut of lidar peer AEye is still pending.

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Lidar sensor company Innoviz makes public debut after SPAC merger