Business
Enovix Announces Completion of Warrant Dividend Program
Warrants Expired and Ceased Trading on Friday, August 29, 2025 Approximately 26.5 Million Warrants Exercised for Approximately $232.1 Million Gross Proceeds
About this update from Enovix Corporation
[{"type":"text","content":"Warrants Expired and Ceased Trading on Friday, August 29, 2025 Approximately 26.5 Million Warrants Exercised for Approximately $232.1 Million Gross Proceeds FREMONT, Calif., Sept. 05, 2025 (GLOBE NEWSWIRE) -- Enovix Corporation (Nasdaq: ENVX, ENVXW) (“Company” or “Enovix”), a leader in advanced silicon battery technology, today announced the successful completion of its warrant dividend program. As of the expiration deadline on August 29, 2025, all outstanding warrants have either been exercised or expired, formally concluding the transaction. Preliminary Key Results (subject to final adjustments for final reconciliation of warrant exercises): Approximately 26.5 million common shares issued upon the exercise of the same number of warrantsApproximately $232.1 million in gross proceeds generated for Enovix for warrant exercisesWarrant dividend program has concluded, and no further action is required by shareholders or warrant holders “We designed the warrant dividend to be a shareholder-friendly mechanism that could both reward participation and strengthen our capital position,” said Raj Talluri, President and CEO of Enovix. “With over $232.1 million in gross proceeds raised through exercises, we believe the program has delivered on both fronts and provides us additional resources to accelerate production at Fab2, scale our 100% silicon-anode battery technology, and to potentially pursue acquisition targets in the battery ecosystem where we believe we could accelerate the adoption of our batteries into additional markets and customers through the acquisition of businesses or technologies. Combined with recent independent testing confirming AI-1™ as the industry’s highest energy density smartphone cell available, we believe this milestone reinforces our leadership in silicon-anode batteries and positions us to drive the next wave of innovation in the industry. We sincerely thank all of our shareholders for their continued confidence and support.” Warrant Dividend Program Background Enovix announced a dividend of warrants on July 7, 2025, with warrants distributed on July 21, 2025 to shareholders and convertible noteholders of record as of July 17, 2025. Each warrant was exercisable for $8.75 in cash. The warrants were structured to expire early upon satisfaction of certain trading price conditions relating to the Company’s common s...