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Enovix Announces Proposed Public Offering of Common Stock

Benzinga LogoBenzinga1d ago

Enovix Announces Proposed Public Offering of Common Stock - Benzinga

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FREMONT, Calif., Oct.30, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (NASDAQ:ENVX), a global high-performance battery company, today announced that it has commenced an underwritten public offering of $100.0 million of shares of its common stock, subject to market and other conditions.

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.

In connection with the offering, Enovix expects to grant the underwriter a 30-day option to purchase up to an additional $15.0 million of the shares of common stock offered in the public offering.

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Article Details

Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 20:01:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 757 words

Reading Time: 5 minutes read

Sentences: 25 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23342569

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Official Website: benzinga.com

Update Frequency: 3 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 9 hours ago

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Publisher ID: #54

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