Enovix closes $360M convertible note offering at 4.75% due 2030; conversion price $11.21

Enovix Corp

$360M aggregate principal of 4.75% convertible senior notes due Sept 15, 2030; conversion price $11.21 (22.5% premium over last sale).
Net proceeds ~$348.6M; used ~$45.3M to pay for capped call transactions that reduce dilution.
Capped calls with six, twelve, eighteen, and thirty-six month expirations; cap prices range $16.47–$20.13 (avg 100% premium).
Remaining proceeds earmarked for general corporate purposes, including potential battery-ecosystem acquisitions that may be EBITDA accretive.
Initial purchasers' over-allotment option for additional $60M exercised in full.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Enovix Corp issued Initially, a maximum of 39,344,256 shares of the Company’s Common Stock may be issued upon conversion of the Notes based on the initial maximum conversion rate of convertible note to initial purchasers for $360 million aggregate principal amount of 4.75% Convertible Senior Notes due 2030.

Security: convertible note
Shares: Initially, a maximum of 39,344,256 shares of the Company’s Common Stock may be issued upon conversion of the Notes based on the initial maximum conversion rate
Purchaser: initial purchasers
Consideration: $360 million aggregate principal amount of 4.75% Convertible Senior Notes due 2030

Exact text from the filing

accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 Entry into a Material Definitive Agreement. Indenture and Notes On September 10, 2025, Enovix Corporation (the “ Company ”) completed its previously announced private offering (the “ Offering ”) of $360 million aggregate principal amount of 4.75% Convertible Senior

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Source: SEC EDGAR

accession 0001828318-25-000300

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