3M and Amazon expand partnership; Amazon can subscribe to more than 3.16 million 3M shares within seven years.

On October 19 local time, 3M announced the expansion of its strategic commercial collaboration with a wholly owned subsidiary of Amazon, and the issuance of warrants to another wholly owned subsidiary of Amazon, allowing it to subscribe for up to 3.162 million shares of 3M common stock at a price of $164.89 per share within seven years. Under the agreement, 85% of the warrant shares will vest gradually after Amazon pays for optical connectivity and other data center products, with full vesting upon cumulative payments reaching $6 billion; the remaining 15% will depend on specific event milestones.