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.

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