Enovix announces $100M common stock offering

Enovix (ENVX) Corporation announced that it has commenced an underwritten public offering of $100M of shares of its common stock, subject to market and other conditions. Enovix intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and short-term investments, for general corporate purposes, and for working capital and capital expenses to achieve high-volume manufacturing at its high-volume production facility “Fab2” in Penang, Malaysia. Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.