Enovix Corp — Form 8-K

Enovix will distribute approximately 65.6 million warrants to common stockholders (1 warrant per 4 shares) and convertible noteholders on November 18, 2026, with a $3.00 per share exercise price. Warrants may be exercised for cash or by surrendering 2028 Notes at face value, potentially retiring the entire $172.5 million outstanding principal of 2028 Notes without cash outlay and generating up to ~$177.2 million in aggregate exercise consideration if all warrants are exercised. Separately, Enovix repurchased $100 million principal of 2030 Notes for $63.1 million (~37% discount), improving net cash position by ~$36.9 million.