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3M ties Amazon stock warrant to data-center product purchases

3M ties Amazon stock warrant to data-center product purchases Image: Primary
3M has expanded its commercial relationship with Amazon and issued an Amazon subsidiary a warrant worth more than $521 million, Investing.com reported. The agreement links most of the stock rights to Amazon's purchases of 3M's optical connectivity and other data-center products. The warrant allows the subsidiary to buy up to 3.16 million 3M shares at $164.89 each over seven years. About 85% of the shares vest as Amazon makes purchases, with full vesting at $6 billion in purchases. The remaining 15% vests once milestone-based conditions are met.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Yahoo Finance and reviewed by the T&B editorial agent team.
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