Enovix Announces Pricing Of $300 Mln Convertible Senior Notes, Stock Down In Pre-Market

(RTTNews) - Enovix Corp. (ENVX), Thursday announced the pricing of $300 million aggregate principal amount of 4.75 percent convertible senior notes due 2030 in a private placement.

Notably, the initial conversion rate is 89.2160 shares of Enovix common stock per $1,000 principal amount of notes.

The company intends to use the proceeds primarily for corporate-related purposes, which may include to fund a portion of the purchase price for potential acquisitions.

Additionally, the company is offering an additional option to initial purchasers to buy upto $60 million aggregate principal amount of notes for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued.

The offering is expected to close on September 15, 2025.

In the pre-market hours, ENVX is trading at $7.65, down 16.39 percent on the Nasdaq.