SCHEDULE 13G: CVI Investments and Heights Capital Management Disclose 7.3% Stake in Innoviz Technologies

CVI Investments, Inc. and its investment manager, Heights Capital Management, Inc., have disclosed a beneficial ownership of 7.3% of Innoviz Technologies Ltd.'s ordinary shares.

Summary

• CVI Investments, Inc. and Heights Capital Management, Inc. (collectively, "Reporting Persons") have filed a Schedule 13G indicating beneficial ownership of Innoviz Technologies Ltd.
• The Reporting Persons collectively own 14,388,489 ordinary shares of Innoviz Technologies Ltd.
• This ownership represents 7.3% of the company's outstanding ordinary shares.
• Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc. and exercises shared voting and dispositive power over these shares.
• As of February 10, 2025, Innoviz Technologies Ltd. had 198,174,008 shares outstanding, excluding shares underlying warrants, following the completion of a recent offering.

Sentiment

Score: 6

Explanation: The document is a factual disclosure of beneficial ownership. The presence of a significant institutional investor is generally a positive signal, but the filing itself does not contain performance or strategic updates to warrant a higher score.

Positives

• Disclosure of a significant 7.3% beneficial ownership by institutional investors CVI Investments, Inc. and Heights Capital Management, Inc. indicates notable institutional interest in Innoviz Technologies Ltd.
• The transparency provided by this Schedule 13G filing offers clarity on the company's ownership structure.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The Reporting Persons certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

The disclosure of a significant institutional stake by CVI Investments and Heights Capital Management in Innoviz Technologies Ltd., a company in the LiDAR technology sector, suggests growing investor confidence or strategic positioning within the autonomous vehicle and sensor industry. Such investments can signal a positive long-term view on the company's market potential or technological advancements, aligning with broader trends of increasing investment in disruptive technologies.

Comparison to Industry Standards

• This filing is a standard beneficial ownership disclosure and does not provide financial or operational results for comparison to industry standards. It solely reports the ownership stake of specific institutional investors.

Related Party Transactions

• The filing discloses that Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc., exercising shared voting and dispositive power over the reported shares. This is a disclosed relationship rather than a specific transaction.

Stakeholder Impact

• Shareholders benefit from increased transparency regarding significant ownership stakes.
• The presence of a notable institutional investor may be perceived positively by the market, potentially influencing investor confidence.

Next Steps

• No specific future actions, events, or milestones are mentioned for Innoviz Technologies Ltd. or the Reporting Persons in this beneficial ownership filing.

Key Dates

Keywords

Innoviz Technologies, CVI Investments, Heights Capital Management, Schedule 13G, beneficial ownership, institutional investment, ordinary shares, SEC filing, ownership disclosure