Enovix (ENVX) Completes $100M Equity Offering

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Go back to Enovix (ENVX) Completes $100M Equity Offering

Enovix Completes $100 Million Equity Offering

November 5, 2024 8:30 AM EST

FREMONT, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (Enovix) (Nasdaq: ENVX), a global high-performance battery company, announced today that it completed a secondary equity offering. On Friday November 1, the Company received approximately $96 million dollars net of fees related to the transaction. As a result, the Company now expects to close 2024 with cash levels of approximately $245 million, compared to the prior expectation of $150 million.

Enovixs CEO Raj Talluri commented, As we disclosed on our third quarter earnings call, we have multiple mass production commitments in 2025, and a growing... More