Enovix Reports Acquisition Of Privately-Held Korean Battery Manufacturer Routejade For 6.2M Shares Of Enovix Common Stock And $16.5M In Cash
Portfolio Pulse from Benzinga Newsdesk
Enovix has announced the acquisition of privately-held Korean battery manufacturer Routejade in a cash and stock deal. The total consideration consists of approximately 6.2 million shares of Enovix common stock and $16.5 million in cash, assuming the purchase of 100% of Routejade.
September 20, 2023 | 8:03 pm
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POSITIVE IMPACT
Enovix's acquisition of Routejade could potentially expand its market presence and product portfolio. The deal, involving 6.2 million shares and $16.5 million, may impact the company's stock price.
Acquisitions often lead to an increase in stock price due to potential synergies and market expansion. Given that Enovix is acquiring Routejade, a battery manufacturer, it could potentially expand its product portfolio and market presence, which could positively impact its stock price.
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