Enovix declared a special warrant dividend of approximately 65.6 million warrants to common stockholders and convertible noteholders as of the November 13, 2026 record date. Each holder receives one warrant for every four shares held. The warrants carry a $3.00 exercise price and expire on April 28, 2028, subject to early expiration if the stock reaches $3.30 VWAP for 20 of 30 days. Holders may exercise using cash or by surrendering Enovix's 3.00% Convertible Senior Notes due 2028 at face value, which would retire debt without cash outlay. The company also repurchased $100 million in 4.75% notes due 2030 at a 37% discount to par. Enovix develops and manufactures advanced lithium-ion batteries for consumer, defense, and industrial applications.
