Enovix Corporation, a leader in advanced Lithium-ion battery technology, has announced key additions to its leadership team to drive growth. Notable appointments include Boris Bastien as VP of Operations and Alan Hawse as VP of IT. This follows the company's ongoing expansion, having hired over 100 employees since March 2020. Enovix's merger with Rodgers Silicon Valley Acquisition Corp. (RSVA, RSVAU) is anticipated to finalize around July 13, 2021. The new leadership is positioned to enhance production capabilities as Enovix prepares to launch its high-volume production facility for silicon-anode batteries in California.
Enovix Corporation will host an "Advanced Battery Production Showcase" on July 15, 2021, at 9:00 am PDT / 12:00 pm EDT. The virtual event aims to present Enovix's innovations in 3D Silicon Lithium-ion batteries and will feature discussions with leadership. Enovix's factory in Fremont, California is the first facility designed for volume production of advanced batteries with a 100% active silicon anode. The company’s merger with Rodgers Silicon Valley Acquisition Corp. (Nasdaq: RSVA, RSVAU) is anticipated to conclude in July 2021, resulting in the new ticker symbol ENVX.
Rodgers Silicon Valley Acquisition Corp. (Nasdaq: RSVA, RSVAU, RSVAW) announced that the SEC has declared effective its Registration Statement related to its proposed business combination with Enovix Corporation. The Special Meeting for stockholders to vote on this merger is set for July 12, 2021. Following approval, Enovix will trade under the symbol 'ENVX'. The proxy statement detailing the merger rationale will be sent to stockholders starting June 25, 2021. Completion of the merger is anticipated on July 13, 2021, pending necessary approvals.
Enovix Corporation has appointed Steffen Pietzke as Chief Financial Officer to lead financial operations as the company prepares for its merger with Rodgers Silicon Valley Acquisition Corp (Nasdaq: RSVA, RSVAU). Announced in February 2021, the merger is expected to close in the second quarter of 2021. Pietzke brings over 20 years of experience in finance, having managed IPOs for ALX Oncology and Tricida. His expertise is expected to support Enovix’s transition to a publicly traded company and facilitate its growth in advanced battery production.
Enovix Corporation has announced a merger with Rodgers Silicon Valley Acquisition Corp. (Nasdaq: RSVA, RSVAU), aiming to become a public company by Q2 2021. The transaction values the combined entity at approximately $1.128 billion. Enovix develops advanced 3D Silicon Lithium-ion batteries, achieving energy densities up to 900 Wh/L. The merger proceeds will help build two production facilities to meet growing demand in mobile computing sectors. The transaction also includes a $175 million PIPE investment at $14 per share.