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Technology Stocks : Ouster (OUST)

OUST 28.42

-10.4%

2:48 PM EST

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To: Sam who wrote (51)	2/7/2022 7:03:21 PM
From: Glenn Petersen	of 244

Velodyne issues warrant for 39.6 mln shares to Amazon subsidiary Reuters February 7, 2022 1 minute read Feb 7 (Reuters) - A subsidiary of Amazon.com Inc has secured a warrant to acquire 39.6 million shares in Velodyne Lidar Inc (VLDR.O), the sensor maker said on Monday, more than doubling its share price in after-market trade. Shares were up 88% at $7.09, as of 16:35 ET, after gaining as much as 127%. Velodyne had lost about 80% in value in 2021 amid internal conflict with management as well as the resignation of its former chief executive Anand Gopalan in July. According to the deal, Amazon.com NV Investment Holdings, a wholly-owned subsidiary of Amazon, can exercise the warrant on or before Feb. 4, 2030 at $4.18 per share. Velodyne shares closed Monday at $3.77. The warrant shares will vest over time based on "discretionary payments" to Velodyne by Amazon of up to $200 million. According to the terms of the deal, Amazon can appoint a board observer when its shareholding crosses 12.3 million shares. Reporting by Yuvraj Malik and Eva Mathews in Bengaluru; Editing by Krishna Chandra Eluri Velodyne issues warrant for 39.6 mln shares to Amazon subsidiary \| Reuters

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