spencer baker

$envx Attached 8-K includes a FAQ at the end. Note the paragraph about shorts being required on the distribution date (November 18) to deliver warrants. ir.enovix.com/node/13866/htm…

$ENVX Borrow rate is still high. No shares available to borrow at IB currently.

$envx just declared a special warrant dividend paired with a significant balance-sheet liability reduction. Stockholders of record on November 13 will receive 1 warrant for every 4 shares held.
 Each warrant allows the holder to purchase one share at an exercise price of $3. 
 The warrants are scheduled to be distributed on or about November 18, 2026. They expire April 28, 2028.
 If all ~65.6 million issued warrants are exercised, it would inject ~$177.2 million in new cash into Enovix's balance sheet.
 Warrant holders can pay the $3 exercise price in cash or by surrendering Enovix’s 2028 Convertible Notes at face value.
 Enovix also disclosed that it repurchased $100 million of its 2030 Notes for approximately $63 million, boosting its net cash position by about $37 million. This reduces debt by allowing convertible noteholders to retire debt early in exchange for equity. It saves millions of $ in annual interest. This is also designed to reward shareholders. So the company clearly anticipates the sp rising from this point and, as a minimum, staying above $3. Sounds familiar 😉 After this is done they will have a fortress balance sheet, which extends the runway without dilutive offerings.

$envx Ryan: “Our plan is to turn our current customer opportunities into revenue and to simultaneously reduce our cost structure. A stronger balance sheet makes both easier. We have just retired $100 million of our 2030 Notes at roughly $37 million below par that will create an equivalent benefit to profit before tax. Today’s warrant dividend extends that work to the 2028 Notes by retiring that debt without spending cash. Stockholders and holders of the 2028 Notes and 2030 Notes will receive a no-cost, tradable warrant and be given the choice to exercise, hold or sell it.” TJ added: “As I wrote to shareholders last year, the first point about a warrant dividend is counterintuitive: it is non-dilutive, because it is neutral to percent ownership. Every shareholder gets the same one-for-four deal. The no-cost warrants trade on Nasdaq, so every holder has a simple choice to make – sell, hold, or exercise them. This offering adds one new feature to the 2026 warrant dividend. A holder of our 2028 Notes can pay the exercise price with those notes at face value, so every warrant exercised with 2028 Notes retires debt dollar-for-dollar without Enovix spending a dollar of cash. Our 2025 one-sentence summary still holds: a warrant dividend rewards shareholders directly for supporting us.”

$envx News! ir.enovix.com/news-releases/…

$envx Excerpts from Anduril’s PR: “Anduril has already developed functional prototypes of the first BlueChip laptop and plans to begin taking orders in 2027. The engineering effort includes designing the enclosure for U.S. machining, developing battery and power management systems to accommodate existing American battery technology Components sourced from U.S. and allied-country suppliers account for more than 90% of the BlueChip prototypes’ component procurement cost. Anduril is working to expand domestic component production ahead of planned availability in 2027, with the long-term goal of building a fully domestic supply chain BlueChip laptops will be manufactured in the United States, with circuit board assembly planned for Anduril's Arsenal-1 facility in Ohio. Anduril is developing domestic production capabilities for enclosures, battery components, and other hardware while qualifying suppliers and preparing for production The United States has already invested billions of dollars in expanding domestic semiconductor production, but manufacturing complete computers also requires circuit boards, displays, batteries, and other components still largely produced overseas.” Anduril partnering with $qcom for this project makes sense. As does partnering with @EnovixBatteries , although such a partnership is speculation rn. anduril.com/news/anduril-and…

Buy on Monday and hold till May 🧐 finance.yahoo.com/markets/ar…

$ENVX Squeeze happening 🤔

$envx Expensive to short now as borrow rate is over 20%.

$envx Article by Robin Schneider, PhD, Director of Technical Product Marketing at Enovix enovix.com/news/notes-from-t…