PartnershipJul 15, 2026, 09:32 AM
Electrovaya Partners with Amazon, Issues Warrants for 13.88M Shares
AI Summary
Electrovaya Inc. announced a transaction agreement with Amazon.com Inc., issuing warrants to Amazon's subsidiary for up to 13,880,345 common shares at an exercise price of US$8.56 per share. This agreement strengthens their commercial relationship, aiming to expand the deployment of Electrovaya's Infinity Battery Technology in material handling, robotics, and energy storage. A portion of the warrants vested immediately, with the remainder vesting upon Amazon reaching cumulative purchases of US$280 million.
Key Highlights
- Issued warrants to Amazon for up to 13,880,345 common shares.
- Warrants exercisable at US$8.56 per share for a ten-year period.
- 5,545,880 warrants vested immediately upon agreement execution.
- Remaining warrants vest upon Amazon achieving US$280 million in cumulative purchases.
- Agreement expands commercial relationship with Amazon for battery technology.
- Key executives signed support agreements for warrant-related resolutions.
Price Impact
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