What Happened to Enovix?
Ticker: ENVXSPAC Year: 2020
Return
-49.8%
Current Price
$5.02
Peak Price
$39.48
Trust Size
$879M
Summary
Enovix is a silicon battery company developing next-generation lithium-ion batteries with higher energy density for smartphones, laptops, wearables, and eventually electric vehicles.
What Happened
Enovix went public in July 2021 through a merger with Rodgers Silicon Valley Acquisition Corp. The company's 3D Silicon battery architecture promises significantly higher energy density than conventional lithium-ion cells. Enovix has been scaling production at its Fab-1 facility in Fremont, California and building a high-volume manufacturing facility in Malaysia. The stock has been volatile as the company works to achieve commercial-scale production.
Timeline
2020-11-25
S-1 Registration Filed