Rodgers Silicon Valley Acquisition Sets Vote Date on $1.13B Enovix Merger

Rodgers Silicon Valley Acquisition

Rodgers Silicon Valley Acquisition and Enovix announced today that the SEC has declared effective the SPAC’s S-4 outlining the companies’ proposed business combination.

RSVAC stockholders are set to vote on the deal July 12.

Terms call for Enovix to receive $385 million in net cash, after expenses consisting of approximately $230 million cash held in trust by the SPAC and a $175 million concurrent PIPE of common stock issued at $14 per share.

Enovix is engaged in the development and production of advanced silicon-anode lithium-ion batteries.

If approved, the combined company will list on the Nasdaq under ENVX. Read more.

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