Former Cypress CEO TJ Rodgers Shows Up on Two Sides of SPAC Deal

A blank-check company founded by T.J. Rodgers, the former chief executive officer of Cypress Semiconductor Corp., is merging with a battery technology company that counts Rodgers as a large shareholder.

Rodgers Silicon Valley Acquisition Corp. said Monday it would merge with Enovix Corp., a maker of lithium-ion batteries, in a deal that is valued at $1.1 billion including debt.

Rodgers has been a director at Enovix since 2012, according to an investor presentation on the deal, and was the company’s largest individual shareholder as of September, an earlier statement showed. Enovix, which was founded in 2007, ...