Enovix Corp 8-K, filed Apr 17, 2023
Enovix Corp (ENVX)
8-K
2023-04-17
For: 2023-04-17
View Original
Added on
April 12, 2026
About this 8-K
Enovix Corp filed this 8-K on April 17, 2023.
Items reported
- Item 7.01: Regulation FD disclosure
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): April 17, 2023
(Exact name of Registrant as Specified in Its Charter)
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Item 7.01 Regulation FD Disclosure.
In connection with investor presentations for a proposed offering of convertible senior notes due 2028, Enovix Corporation (the “Company”) stated that it produced 12,500 battery cells from its Fab-1 production facility in Fremont, California (“Fab-1”), during the quarter ended April 2, 2023, exceeding its forecast of 9,000 battery cells. The Company continues to expect to produce 180,000 wearable-size cells at Fab-1 for full-year 2023.
The Company is also seeking at least $70 million of non-dilutive financing to fund its next-generation manufacturing line at the Company’s high-volume manufacturing facility, which is expected to be located in Penang, Malaysia, at the Penang Science Park, pursuant to a previously announced non-binding letter of intent between the Company and YBS International Berhad.
The information in this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “will,” “goal,” “prioritize,” “plan,” “target,” “expect,” “focus,” “look forward,” “opportunity,” “believe,” “estimate,” “continue,” “anticipate,” and “pursue” or the negative of these terms or similar expressions. Forward-looking statements in this Current Report on Form 8-K include, but are not limited to, the Company's expectation to produce 180,000 wearable-size cells at Fab-1 for full year 2023, the Company’s plans to raise at least $70 million in non-dilutive financing to fund the Gen2 Autoline, the location of the Gen2 Autoline in Penang, Malaysia, the Company’s production rate of wearable-size cells and the Company’s forecasts of its performance metrics. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results or cause actual results to differ from the results predicted, please refer to our filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed Annual Report on Form 10-K and other documents that we have filed, or that we will file, with the SEC. Any forward-looking statements made by us in this Current Report on Form 8-K shareholders speak only as of the date on which they are made and subsequent events may cause these expectations to change. We disclaim any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.
SIGNATURES
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: | April 17, 2023 | By: | /s/ Steffen Pietzke | ||||||||
| Steffen Pietzke Chief Financial Officer | |||||||||||