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Announced

Completed

Enovix went public via a SPAC merger with Rodgers Silicon Valley Acquisition in a $1.1bn deal.

Financials

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Transaction Value£804m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

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Private Equity

Single Bidder

chip design

Semiconductors

United States

Majority

Private

Domestic

Merger

Acquisition

Reverse Takeover

Friendly

De-SPAC

Completed

Synopsis

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Enovix, a developer of energy storage cells used in lithium-ion and lithium polymer rechargeable batteries, went public via a SPAC merger with Rodgers Silicon Valley Acquisition, a special purpose acquisition company, in a $1.1bn deal. “Enovix’s public company debut marks a significant milestone in our effort to design and manufacture next generation 3D Silicon Lithium-ion batteries with energy densities that are five years ahead of current battery technologies. We are focused on producing the first advanced silicon-anode lithium-ion battery for mass-market applications from our U.S. manufacturing facility. Simply put, the world needs a better battery and we look forward to powering the industries of the future," Harrold Rust, Enovix President and CEO.

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