Enovix Corporation announced on October 28, 2026, that its Board of Directors has declared a warrant dividend distribution. The distribution will be made to holders of the Company’s common stock and its outstanding Convertible Senior Notes as of the close of business on November 13, 2026, the Record Date.
Common stockholders will receive one warrant for every four shares held. Holders of the 3.00% Convertible Senior Notes due 2028 and the 4.75% Convertible Senior Notes due 2030 will receive warrants on a pass-through basis, equal to the number of shares they would own upon conversion of their notes.
The warrants are expected to be distributed on or about November 18, 2026. Each warrant entitles the holder to purchase one share of common stock at an initial cash exercise price of $3.00. Holders may exercise the warrants using cash or by delivering the 2028 Notes at face value; the 2030 Notes are not eligible for this exchange.
Warrants are expected to be listed on Nasdaq under the symbol ENVXW. They will expire at 5:00 p.m. New York City time on April 28, 2028, subject to an early expiration condition if the stock price reaches 110% of the exercise price for 20 trading days in a 30-day period.
In related corporate actions, Enovix repurchased $100 million aggregate principal amount of its 2030 Notes for approximately $63.1 million, a discount of roughly 37% to par. The Company also reported preliminary, unaudited Q3 2026 revenue of $11.0 million, a 38% increase from the prior year.
