Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Lidar maker Innoviz wins $4 billion Volkswagen contract
Israeli lidar maker Innoviz wins $4 billion Volkswagen contract for millions of sensors
Israeli lidar maker Innoviz (NASDAQ:INVZ) announced Tuesday it has won a contract to supply lidar units and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion in sales over eight years.
Under the deal, Volkswagen will incorporate Innoviz’s latest automotive lidar unit and its proprietary perception software into vehicles across its portfolio.
Innoviz, which went public via a merger with Collective Growth Corp. in late 2020, had previously announced the deal but had not revealed its client. The lidar maker said in May that it had won a deal with “one of the largest vehicle manufacturers in the world” to “become its direct lidar supplier across multiple brands.”
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At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...