Electrovaya signs commercial agreement with Amazon tied to up to US$280 million in purchases
AMZN•Commercial agreement tied to battery deployments
Electrovaya said it signed a commercial agreement with Amazon tied to deployments of its Infinity Battery Technology in material handling operations.
Amazon received warrants for up to 13,880,345 shares, which will fully vest if cumulative future purchases reach US$280 million.
Part of the warrants vest immediately, and the exercise price is based on the prior five-day VWAP.
