Enovix Corporation (NASDAQ:ENVX) is one of the 10 Stocks Crushing Market Expectations.
Enovix rallied for a third day on Monday, jumping 14.4 percent to close at $13.03 apiece following the announcement of a special dividend in the form of warrants to shareholders as of July 17, 2025.
According to the company, each stockholder of record as of the record date will receive one warrant for every seven common shares held. Each warrant will entitle the holder to purchase one share of common stock at an exercise price of $8.75 per share. The warrants may be exercised only for cash.
In addition, holders of the company’s 3-percent convertible senior notes due 2028 as of the record date will receive warrants on a pass-through basis, as provided under the indenture governing the convertible notes.
A close-up of a battery cell being assembled with intricate precision.
Enovix Corporation said payments will be made on or around July 21, 2025, and that it expects to raise $253.8 million of gross proceeds from the exercise.
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This article is originally published at Insider Monkey.
