Enovix (NASDAQ: ENVXW) sets Aug 29, 2025 expiry for ENVXW warrants

Rhea-AI Filing Summary

Enovix Corporation announced that the volume-weighted average price (VWAP) of its common stock exceeded $10.50 for the required number of trading days, triggering the early expiration condition for its Nasdaq-listed ENVXW warrants under a July 21, 2025 Warrant Agreement. The company elected to set August 29, 2025 as the alternate expiration date for these warrants.

The ENVXW warrants are scheduled to stop trading on Nasdaq at 4:00 p.m. New York City time on August 29, 2025, and holders must exercise them by 5:00 p.m. that day, in each case so long as the VWAP of the common stock is at least $8.75 for each of the two trading days immediately before the expiration date. After 5:00 p.m. on August 29, 2025, any unexercised warrants will be void and their holders will have no further rights. A press release and a Notice of Guaranteed Delivery for warrant exercise are filed as exhibits.

Insights

Equity & Derivatives Analyst

Early ENVXW warrant expiry is triggered by stock price performance and creates a near-term exercise deadline for holders.

The company states that its common stock VWAP has exceeded $10.50 for the requisite trading days, satisfying the early expiration condition for ENVXW warrants under the Warrant Agreement dated July 21, 2025. Exercising these warrants allows holders to buy common shares at an exercise price of $8.75 per share, which can be attractive when the stock trades meaningfully above that level.

Enovix has elected August 29, 2025 as the alternate expiration date, with trading in the warrants ending at 4:00 p.m. and exercise required by 5:00 p.m. New York City time, provided the VWAP is at least $8.75 for each of the two trading days immediately before expiration. Any warrants not exercised by that time will become void, so the actual impact on the company’s share count and cash inflows will depend on how many holders choose to exercise before this deadline.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 28, 2025

Enovix Corporation

(Exact Name of Registrant as Specified in Its Charter)

Delaware

001-39753

85-3174357

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

3501 W Warren Avenue Fremont, California						94538
(Address of Principal Executive Offices)						(Zip Code)

Registrant’s Telephone Number, Including Area Code: (510) 695-2350

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

ENVX

The Nasdaq Global Select Market

Warrants, each exercisable for one share of Common Stock, at an exercise price of $8.75 per share

ENVXW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On August 28, 2025, Enovix Corporation, a Delaware corporation (the “Company”), issued a press release announcing that as of August 27, 2025, the volume-weighted average price (“VWAP”) of its common stock has exceeded $10.50 for the requisite number of trading days since the distribution of the Company warrants currently traded on Nasdaq under ENVXW (the “Warrants”) to satisfy the early expiration price condition applicable to the Warrants in accordance with the Warrant Agreement, dated as of July 21, 2025, between the Company and Computershare Trust Company N.A., as Warrant Agent (the “Warrant Agreement”). 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. From and after 5:00 p.m. New York City time on August 29, 2025, the Warrants will no longer be exercisable and will be void, and the holders of unexercised Warrants will have no further rights with respect to any Warrants.

The Notice of Guaranteed Delivery for Exercise of Warrants referred to in the press release summarized above is attached hereto as Exhibit 99.2.

The foregoing descriptions are only summaries and are qualified in their entirety by reference to the press release and Notice of Guaranteed Delivery filed as Exhibit 99.1 and Exhibit 99.2, respectively, to this Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number						Description
99.1						Press Release dated August 28, 2025
99.2						Notice of Guaranteed Delivery for Exercise of Warrants
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

									Enovix Corporation
Date:			August 28, 2025			By:			/s/ Arthi Chakravarthy
									Arthi Chakravarthy Chief Legal Officer and Head of Corporate Development

FAQ

What did Enovix (ENVXW) announce regarding its warrants?

Enovix announced that the volume-weighted average price of its common stock has exceeded $10.50 for the required number of trading days, triggering an early expiration condition for its ENVXW warrants under a July 21, 2025 Warrant Agreement. The company elected to move the warrant expiration up to August 29, 2025.

When do Enovix ENVXW warrants stop trading and expire?

The ENVXW warrants are scheduled to stop trading on Nasdaq at 4:00 p.m. New York City time on August 29, 2025, and must be exercised by 5:00 p.m. New York City time that same day, subject to the VWAP condition described in the filing.

What price condition applies to the early expiration of Enovix ENVXW warrants?

The early expiration was triggered because the common stock VWAP exceeded $10.50 for the requisite number of trading days. In addition, for the August 29, 2025 expiration to apply, the VWAP must be at least $8.75 for each of the two trading days immediately before that date.

What happens if Enovix ENVXW warrants are not exercised by the deadline?

From and after 5:00 p.m. New York City time on August 29, 2025, any unexercised ENVXW warrants will no longer be exercisable, will be void, and their holders will have no further rights with respect to those warrants.

What exhibits did Enovix file with this 8-K about ENVXW warrants?

Enovix filed a press release dated August 28, 2025 as Exhibit 99.1 and a Notice of Guaranteed Delivery for Exercise of Warrants as Exhibit 99.2. The cover page interactive data file was filed as Exhibit 104.

What are the key terms of Enovix ENVXW warrants mentioned in the filing?

The filing notes that each ENVXW warrant is exercisable for one share of common stock at an exercise price of $8.75 per share, and that early expiration mechanics are governed by the Warrant Agreement dated July 21, 2025.