Enovix Announces Pricing of Public Offering of Common Stock

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FREMONT, Calif., Oct.30, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (NASDAQ:ENVX), a global high-performance battery company, today announced the pricing of an underwritten public offering of 10,416,667 shares of its common stock for total gross proceeds of $100 million before deducting underwriting discounts and commissions and estimated offering expenses payable by Enovix.

Enovix has granted the underwriter a 30-day option to purchase up to an additional 1,562,500 shares of its common stock offered in the public offering, at the public offering price, less underwriting discounts and commissions.Cantor Fitzgerald & Co.is acting as sole book-running manager for the offering.

Enovix intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments, for general corporate purposes, and for working capital and capital expenses to achieve high-volume manufacturing at its high-volume production facility "Fab2" in Penang, Malaysia.

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Article Details

Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United StatesMalaysia

Topics: ENVX Press Releases News IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 23:46:17 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 839 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 23343569

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