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.
Rodgers Silicon Valley Acquisition Corporation has acknowledged the SEC's guidance regarding the accounting treatment of SPAC-issued warrants, leading to a corrective disclosure approved by auditor Marcum LLP. This will necessitate a restatement of the Company’s Form-10K for the fiscal year 2020. The Company confirms that the Initial Business Combination with Enovix Corporation remains on track to close in Q2 2021, after which it will operate under the new ticker symbol, ENVX, on Nasdaq.
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.
Rodgers Silicon Valley Acquisition Corp. (NASDAQ: RSVAU) announced that starting January 4, 2021, holders of the units from its initial public offering can trade shares of common stock and warrants separately. The common stock will trade under the symbol 'RSVA,' and the warrants under 'RSVAW.' Those who choose not to separate their units can continue trading them under 'RSVAU.' Investors must contact their brokers to effectuate this separation. Oppenheimer & Co. Inc. managed the offering, which is aimed at providing early access to innovative technology companies in sectors like green energy and AI.
Rodgers Silicon Valley Acquisition Corp. (NASDAQ: RSVAU) has successfully closed its initial public offering (IPO) of 23 million units, raising $230 million at $10.00 per unit. This offering includes 3 million units from the underwriter's over-allotment option. Each unit comprises one share of common stock and a half warrant, with whole warrants priced at $11.50 per share. Units began trading on Nasdaq on December 2, 2020. Oppenheimer & Co. Inc. served as the sole book-running manager for this IPO.
Rodgers Silicon Valley Acquisition Corp. has priced its IPO at $10.00 per unit, offering 20 million units, each comprising one share of common stock and a half warrant. The units will begin trading on Nasdaq under the ticker symbol 'RSVAU' from December 2, 2020. The IPO is set to close on December 4, 2020, pending customary conditions. Oppenheimer & Co. Inc. is the sole book-running manager for this offering. Additionally, the company has granted underwriters a 45-day option to purchase up to 3 million additional units.