Enovix Distributes Dividend of Warrants to Stockholders

Core Viewpoint - Enovix Corporation is distributing warrants to purchase common stock to shareholders and certain convertible noteholders, reflecting confidence in the company's long-term value as it scales production and enhances battery performance [1][2] Warrant Distribution Details - The distribution date for the warrants is July 21, 2025, with shareholders of record as of July 17, 2025, receiving one warrant for every seven shares held [1][6] - Holders of Enovix's 3.00% Convertible Senior Notes due 2028 will also receive warrants based on the same ratio [6] Warrant Terms and Conditions - The warrants will expire at 5:00 p.m. New York City time on October 1, 2026, unless an early expiration condition is triggered [6] - The early expiration condition requires the volume-weighted average price (VWAP) of Enovix common stock to equal or exceed $10.50 for any 20 out of 30 trading days following the distribution date [4][6] - If the early expiration condition is met, the warrants could expire as early as August 19, 2025 [4] Company Overview - Enovix is a leader in lithium-ion battery technology, focusing on higher energy density and improved safety through its proprietary cell architecture [6][7] - The company's silicon-anode batteries are designed for various applications, including wearable electronics and electric vehicles, addressing the growing demand for high-performance energy storage [7]