Enovix Completes $100 Million Equity Offering
Enovix (Nasdaq: ENVX) has successfully completed a secondary equity offering, receiving approximately $96 million net of fees. This capital raise strengthens the company's financial position, with expected year-end 2024 cash levels of approximately $245 million, up from the previous forecast of $150 million. The company cites multiple mass production commitments for 2025 and a growing pipeline for 2026, with plans to use the strengthened balance sheet to fund additional high-volume production lines.
Enovix (Nasdaq: ENVX) ha completato con successo un'offerta secondaria di equity, raccogliendo circa 96 milioni di dollari al netto delle spese. Questo aumento di capitale rinforza la posizione finanziaria dell'azienda, con livelli di cassa previsti per la fine del 2024 di circa 245 milioni di dollari, in aumento rispetto alla precedente previsione di 150 milioni di dollari. L'azienda cita diversi impegni di produzione di massa per il 2025 e un ventaglio in crescita per il 2026, con piani di utilizzare il bilancio rinforzato per finanziare ulteriori linee di produzione ad alto volume.
Enovix (Nasdaq: ENVX) ha completado con éxito una oferta secundaria de acciones, recibiendo aproximadamente 96 millones de dólares netos de comisiones. Este aumento de capital refuerza la posición financiera de la empresa, con niveles de efectivo esperados para finales de 2024 de aproximadamente 245 millones de dólares, en comparación con la previsión anterior de 150 millones de dólares. La compañía menciona múltiples compromisos de producción masiva para 2025 y un pipeline en crecimiento para 2026, con planes de utilizar el balance fortalecido para financiar líneas de producción de alto volumen adicionales.
Enovix (Nasdaq: ENVX)는 약 9,600만 달러의 수수료를 제외한 자본을 성공적으로 조달함으로써 이차 주식 공모를 완료했습니다. 이번 자본 조달은 회사의 재무 안정성을 강화하며, 2024년 연말에 예상되는 현금 수치는 약 2억 4,500만 달러로, 이전 예측인 1억 5,000만 달러에서 증가한 수치입니다. 회사는 2025년을 위한 다수의 대량 생산 약속과 2026년을 위한 성장하는 파이프라인을 언급하며, 강화된 재무 구조를 활용하여 추가적인 고용량 생산 라인을 자금 지원할 계획입니다.
Enovix (Nasdaq: ENVX) a réussi à terminer une offre secondaire d'actions, récoltant environ 96 millions de dollars après frais. Cette levée de fonds renforce la position financière de l'entreprise, avec des niveaux de liquidités attendus d'environ 245 millions de dollars d'ici la fin de 2024, contre une prévision précédente de 150 millions de dollars. L'entreprise évoque plusieurs engagements de production de masse pour 2025 et un pipeline en croissance pour 2026, avec des plans d'utiliser le bilan renforcé pour financer d'autres lignes de production à fort volume.
Enovix (Nasdaq: ENVX) hat erfolgreich eine sekundäre Aktienemission abgeschlossen und dabei etwa 96 Millionen Dollar nach Gebühren erhalten. Diese Kapitalerhöhung stärkt die finanzielle Position des Unternehmens, mit voraussichtlichen Zahlungsmittelständen Ende 2024 von etwa 245 Millionen Dollar, gegenüber der vorherigen Prognose von 150 Millionen Dollar. Das Unternehmen nennt mehrere Verpflichtungen zur Massenproduktion für 2025 und eine wachsende Pipeline für 2026 und plant, die gestärkte Bilanz zur Finanzierung zusätzlicher Produktionslinien mit hohem Volumen zu nutzen.
- Raised $96 million through equity offering
- Increased projected 2024 year-end cash position by $95 million to $245 million
- Secured multiple mass production commitments for 2025
- Potential shareholder dilution from secondary equity offering
Insights
The
The timing aligns strategically with the company's expansion plans, providing flexibility to fund additional production lines without excessive dilution or debt burden. The
FREMONT, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, announced today that it completed a secondary equity offering. On Friday November 1, the Company received approximately
Enovix’s CEO Raj Talluri commented, “As we disclosed on our third quarter earnings call, we have multiple mass production commitments in 2025, and a growing pipeline for 2026. Now we can build on this momentum with a stronger balance sheet that gives us optionality for funding additional high-volume production lines. I am excited by our prospects as we look ahead to 2025.”
About Enovix
Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.
Enovix is headquartered in Silicon Valley with facilities in India, Korea and Malaysia. For more information visit www.enovix.com and follow us on LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “expect”, “predict”, “could”, “potentially", “target”, “project”, “believe”, “continue” or the negative of these terms or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding the applicable OEM agreement, including, without limitation, with respect to our ability to successfully develop a
For media and investor inquiries, please contact:
Enovix Corporation
Robert Lahey
Email: ir@enovix.com
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