Enovix prices $300M offering of convertible senior notes due 2023

Enovix (ENVX) announced the pricing of $300M aggregate principal amount of 4.75% Convertible Senior Notes due 2030 in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Enovix also granted the initial purchasers of the Notes an option to purchase up to an additional $60M 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, subject to customary closing conditions. The Notes will be general unsecured obligations of Enovix and will accrue interest payable semiannually in arrears on March 15 and September 15 of each year, beginning on March 15, 2026, at a rate of 4.75% per year. The Notes will mature on September 15, 2030, unless earlier converted, redeemed or repurchased.