---
schema_version: "secwatch.filing_event.v1"
accession: "0001828318-23-000189"
form_type: "8-K"
ticker: "ENVX"
cik: "0001828318"
company_name: "Enovix Corp"
filed_at: "2023-09-14T23:59:59+00:00"
generated_at: "2026-06-10T17:47:31.817521+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Enovix enters deposit agreement to collateralize $70M loan for Malaysia manufacturing

## Summary
- Enovix will deposit cash into a restricted OCBC account equal to OSSB drawdowns under a $70M loan for manufacturing.
- No cash deposits expected in quarter ending Oct 1, 2023; future deposits disclosed in financial statements.
- Deposit earns variable interest; Enovix can withdraw interest if sufficient collateral remains.
- Enovix cannot withdraw deposit without OCBC consent while loan outstanding; additional margin may be required.
- Enovix indemnifies OCBC against losses from unenforceability, breach, or recovery failure of the loan.

## SEC filing metadata
- accession: 0001828318-23-000189
- form_type: 8-K
- ticker: ENVX
- cik: 0001828318
- company_name: Enovix Corp
- filed_at: 2023-09-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828318/000182831823000189/0001828318-23-000189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828318/000182831823000189/envx-20230913.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001828318-23-000189
- JSON: https://secwatch.observer/filing/0001828318-23-000189.json
- Plain text: https://secwatch.observer/filing/0001828318-23-000189.txt

## Key facts
- Debt Financings
  Enovix Corp incurred guarantee of up to $70 million with OCBC Bank (Malaysia) Berhad.
  - Instrument: guarantee
  - Principal: up to $70 million
  - Counterparty: OCBC Bank (Malaysia) Berhad
  - Event: incurrence
  source text: for Enovix products. On July 13, 2023, OCBC and OSSB entered into a Letter Offer (the “Loan Agreement”), pursuant to which OCBC provided an offer of a loan to OSSB for up to $70 million (the “Loan”) to finance manufacturing operations under the Manufacturing Agreement. Enovix entered into the Deposit Agreement with OCBC on September 13, 2023 to collateralize the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828318/000182831823000189/0001828318-23-000189-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.