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  "documentTitle": "Innoviz | SPAC Presentation Deck | 35 slides",
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  "authorName": "Innoviz Technologies",
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  "notes": "Details the business combination with CGRO, equity retention, enterprise value, and PIPE investment.",
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      "text": "Pro forma enterprise value of ~$1.0 billion, implying a 1.8x EV / 2025E revenue multiple, an attractive valuation versus peer averages. Transaction is expected to provide up to $350 million in gross proceeds comprised of: CGRO’s $150m of cash held in trust, assuming no redemption by public shareholders; $200 million fully committed ordinary share PIPE at $10.00 per share, led by Antara Capital and includes strategic investments from Magna International, Innoviz’s Tier-1 partner, Phoenix Insurance and other institutional investors. Pro forma for the transaction, Innoviz is expected to have c.$370m cash on balance sheet. No additional capital is expected to be required between now and achieving positive cash flow.",
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      "text": "Innoviz to become publicly listed through business combination with Collective Growth Corporation (NASDAQ: CGRO) in a transaction sponsored by Antara Capital LP and Perception Capital Partners LLC. CGRO is a publicly listed special purpose acquisition company with over $150m cash held in trust. Following the targeted closing of the transaction in the first quarter of 2021, the combined company is expected to be listed on NASDAQ under the ticker symbol “INVZ”. Innoviz existing shareholders would retain 100% of their equity. Innoviz existing shareholders and management would own c.71% of the combined entity post-closing.",
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