BUZZ-Enovix slides on $100 mln stock offering

Reuters10-31

** Shares of battery maker Enovix down 10% before the bell to $9.44 after overnight follow-on priced

** ENVX on course to fall for third straight session ** Silicon Valley-based firm late Weds sold ~10.4 mln shares for $100 mln gross proceeds

** Offering priced at $9.60, 8.4% discount to last sale

** Co plans to use net offering proceeds to fund working capital and capex for its Fab2 manufacturing facility in Penang, Malaysia

** It has ~177.6 mln shares outstanding for $1.9 bln market cap and ~150 mln shares of public float, per LSEG

** Cantor Fitzgerald sole bookrunner for offering

** Through Weds close, stock down ~16% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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