Enovix announces early expiration price condition for warrants satisfied

Enovix (ENVX) announced that on August 27, 2025, the volume-weighted average price of its common stock had exceeded $10.50 for the requisite number of trading days since the distribution of the Company warrants currently traded on Nasdaq under ENVXW to satisfy the early expiration price condition applicable to the Warrants in accordance with the Warrant Agreement, dated as of July 21, 2025, between Enovix and Computershare Trust Company N.A., as Warrant Agent. Pursuant to the Warrant Agreement, the Company has elected to set Friday, August 29, 2025 as the alternate expiration date for the Warrants. As a result, the Warrants will stop trading on Nasdaq at 4:00 p.m. New York City time on August 29, 2025, and the Warrants must be exercised prior to 5:00 p.m. New York City time on August 29, 2025, in each case, as long as the VWAP of the Company’s common stock is at least $8.75 for each of the two trading days immediately preceding such expiration date. The Company will issue an additional press release to confirm whether the Additional Price Condition has been satisfied, and to reconfirm the final trading day and expiration date of the Warrants. Each Warrant may be cash exercised to purchase one share of the Company’s common stock prior to 5:00 p.m. New York City time on August 29, 2025 for an exercise price of $8.75 per Warrant. As of August 26, 2025, approximately 12.3 million Warrants have already been exercised, generating approximately $107.5M in gross proceeds for the Company to date, with further proceeds expected as Warrants are exercised prior to their expiration.