The 4.75% convertible notes are due 2030

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Enovix Corporation of $360 million aggregate principal amount of its 4.75% convertible senior notes due 2030, including the full exercise of the initial purchasers’ option to purchase additional securities. In addition, Davis Polk advised the counterparties to the capped call transactions in connection with the offering.

Enovix Corporation is a leader in advanced silicon-anode lithium-ion battery development and production.

The Davis Polk corporate team included partner Emily Roberts and associates Savannah J. Dowling and Matthew Marion. The equity derivatives team included partner Randall Derek Walters and associates Richard Stockton Bullitt, Danielle Forni and Tashanique (Tasha) Brown. The tax team included counsel Alon Gurfinkel and associate William Liang. Partner Frank Azzopardi provided intellectual property advice. Members of the Davis Polk team are based in the Northern California, New York and London offices.

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