3M Shares Rise 5.4% After Expanding Amazon Data Center Relationship

3M Company shares rose 5.4% in after-hours trading Monday after expanding its relationship with Amazon to supply optical connectivity and other data center products, with a stock warrant tied to the arrangement. 3M issued a seven-year warrant giving an Amazon subsidiary the right to buy up to 3,162,015 shares at $164.89 each. The subsidiary receiving the warrant is separate from the Amazon subsidiary involved in the commercial agreement. Vesting of 85% of the warrant shares depends on cumulative payments for the covered products. That portion would fully vest if payments reach $6 billion.

Source: TokenPost