Velodyne Lidar Inc VLDR is trading higher Tuesday after an 8-K filing showed it entered into a deal with Amazon.com Inc AMZN whereby the company will issue Amazon about 39.59 million warrants which can be exchanged for common shares.
The warrants will vest over time based on Amazon's discretionary payments to Velodyne of up to $200 million. The vesting is pursuant to existing commercial agreements between Velodyne and Amazon, which relate to the use of the company’s technology for improving customer experiences.
See Also: Velodyne Lidar Shares Soar On Amazon Warrant Deal: What Investors Should Know
Following the vesting, warrants can be exercised for $4.18 per share at any time before Feb. 4, 2030.
Velodyne Lidar provides smart, powerful lidar solutions. The company's revolutionary sensor and software solutions provide flexibility, quality and performance for a wide range of industries.
VLDR Price Action: Velodyne shares have traded as low as $3.13 and as high as $24.70 over a 52-week period.
The stock was up 33.7% at $5.04 at time of publication.
Photo: courtesy of Velodyne Lidar.
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