10:55 AM EST, 11/05/2024 (MT Newswires) -- Enovix ( ENVX ) said Tuesday it has completed a secondary equity offering for roughly $96 million in net proceeds.

The battery company said it now anticipates closing this year with approximately $245 million in cash, compared with its prior expectation of $150 million.

Shares of the company rose 8.2% in recent Tuesday trading.

Price: 9.03, Change: +0.69, Percent Change: +8.24