Ananda Baruah

Colin Rusch

Derek Soderberg

William Peterson

Anthony Stoss

George Gianarikas

Sean Milligan

Auguste Richard

Gabriel Daoud

Jeffrey Osborne

Jonathan Dorsheimer

Gus Richard

Mark Schuster

Mark Schutter

Mark Shooter

- Enovix Corporation announced and priced an offering of **4.75% Convertible Senior Notes due 2030**.  **[1828318_0001828318-25-000300_envx-q3x91525exh992pricing.htm:0]** **[1828318_0001828318-25-000300_envx-q3x91525exh992pricing.htm:1]** 
- The aggregate principal amount of the notes issued totaled **$360 million**, which includes the full exercise of the initial purchasers' option to purchase an additional $60 million in notes.  **[1828318_0001828318-25-000300_envx-20250910.htm:2]** 
- The notes will mature on **September 15, 2030**, and bear an interest rate of **4.75% per year**, payable semiannually.  **[1828318_0001828318-25-000300_envx-q3x91525exh992pricing.htm:1]** **[1828318_0001828318-25-000300_envx-20250910.htm:2]** 
- Enovix estimates the net proceeds from the offering to be approximately **$348.6 million**, assuming the initial purchasers' option to purchase additional notes was exercised in full.  **[1828318_0001828318-25-000300_envx-q3x91525exh992pricing.htm:1]** 
- The company intends to use a portion of the net proceeds for **capped call transactions** and the remainder for **general corporate purposes**, which may include funding **potential acquisitions**.  **[1828318_0001828318-25-000300_envx-q3x91525exh991pressre.htm:1]** **[1828318_0001828318-25-000300_envx-q3x91525exh992pricing.htm:1]**

Enovix Prices $360 Million Convertible Senior Notes Due 2030 Offering

- Enovix Corporation priced **$300.0 million** aggregate principal amount of **4.75%** Convertible Senior Notes due **September 15, 2030**, in a private placement.  **[1828318_96e87a10dac9476e8a45e775c615af14_0]** 
- The estimated net proceeds from the offering are approximately **$290.4 million**.  **[1828318_96e87a10dac9476e8a45e775c615af14_1]** 
- Enovix expects to use approximately **$37.7 million** of the net proceeds for capped call transactions, with the remaining funds intended for **general corporate purposes**, which may include funding a portion of the purchase price for potential acquisitions.  **[1828318_96e87a10dac9476e8a45e775c615af14_1]** 
- The initial conversion price for the Notes is approximately **$11.21 per share**, representing a conversion premium of approximately **22.5%** to the last reported sale price of Enovix common stock on September 10, 2025.  **[1828318_96e87a10dac9476e8a45e775c615af14_1]** 
- Enovix entered into capped call transactions with cap prices ranging from **$16.47** to **$20.13**, which collectively represent an average premium of **100.0%** over the September 10, 2025 closing price.  **[1828318_96e87a10dac9476e8a45e775c615af14_3]**

Enovix Prices $300 Million Convertible Senior Notes Offering

- Enovix Corporation announced that the alternate price condition for its warrants (ENVXW) was satisfied on **August 28, 2025**, confirming **August 29, 2025**, as the alternate expiration date.  **[1828318_0001828318-25-000289_a991prconfirmingalternat.htm:0]** 
- The warrants will stop trading on Nasdaq at **4:00 p.m. New York City time** on **August 29, 2025**, and must be exercised prior to **5:00 p.m. New York City time** on the same day.  **[1828318_0001828318-25-000289_a991prconfirmingalternat.htm:0]** **[1828318_0001828318-25-000289_envx-20250828.htm:1]** 
- Each warrant can be exercised for **$8.75 per share**.  **[1828318_0001828318-25-000289_a991prconfirmingalternat.htm:0]**  As of **August 27, 2025**, approximately **12.6 million warrants** have been exercised, generating about **$110.1 million** in gross proceeds.  **[1828318_0001828318-25-000289_a991prconfirmingalternat.htm:0]** 
- Warrants not exercised by the **August 29, 2025**, deadline will become **void**, and holders will lose all rights.  **[1828318_0001828318-25-000289_a991prconfirmingalternat.htm:0]** **[1828318_0001828318-25-000289_envx-20250828.htm:1]**

Enovix Corp Warrants to Expire and Cease Trading

- Polaris Battery Labs confirmed the Enovix AI-1™ smartphone battery as the **highest energy density cell ever reported for a smartphone**, with an average volumetric energy density of **~919 Wh/L**.  **[1828318_45d7ee293755428abb42a3f1d0f900e8_0]** 
- The AI-1™ platform, first unveiled in **Q2 2025**, also demonstrated **fast charging at 3C rates**, reaching 50% charge in **12.3 minutes** and 100% charge in **39.5 minutes**.  **[1828318_45d7ee293755428abb42a3f1d0f900e8_0]** 
- This independent validation confirms AI-1™ as a **commercial-ready product**, with shipments completed to a **third leading smartphone OEM**, positioning Enovix to capture share in the **multi-billion-dollar smartphone battery market**.  **[1828318_45d7ee293755428abb42a3f1d0f900e8_1]**

Enovix AI-1™ Battery Confirmed as Highest Energy Density Smartphone Battery

Enovix (ENVX)