Generac Strikes Generator Supply Deal with Amazon for Data Centers
2 day ago / Read about 0 minute
Author:小编   

On September 16 (local time), Generac, a prominent U.S. power equipment manufacturer, submitted a filing to the U.S. Securities and Exchange Commission, revealing a significant agreement with Amazon. As part of this deal, Generac will grant a warrant to Amazon's wholly-owned subsidiary, Amazon.com NV Investment Holdings. This warrant empowers the subsidiary to subscribe for up to 1,693,745 ordinary shares of Generac at a price of $200.93 per share. Specifically, 307,954 of these warrant shares will become exercisable immediately, while the remaining shares will vest in installments over the duration of the warrant period. The criteria for share vesting are contingent upon the aggregate payments (net of certain deductions) that Generac and its global affiliates receive from Amazon and its affiliates for supplying backup generators for use in Amazon's data centers, with the potential total reaching up to $8 billion.