Mergers & Acquisitions
By The Online Investor Staff, updated Wed., Mar. 3, 9:57 PM
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Slide #74. Enovix Corporation — Rodgers Silicon Valley Acquisition Corp.
Acquirer:
Enovix Corporation
Acquiree:
Rodgers Silicon Valley Acquisition Corp. (NASDAQ:RSVA)
Details:
Enovix Corporation ("Enovix" or the "Company"), the leader in the design and manufacture of next generation 3D Silicon Lithium-ion batteries, and Rodgers Silicon Valley Acquisition Corp. (Nasdaq: RSVA, RSVAU, RSVAW) ("Rodgers" or "RSVAC"), a special purpose acquisition company ("SPAC"), today announced that they have entered into a definitive agreement and plan of merger for a business combination that will result in Enovix becoming a publicly listed company. Upon closing of the transaction, which is expected to occur in the second quarter of 2021, the company will be named Enovix Corporation and is expected to remain listed on the Nasdaq Stock Market under the new ticker symbol, "ENVX". The transaction reflects an estimated pro forma enterprise value for the combined company of approximately $1.128 billion.
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