Plug Power Inc (PLUG)

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Plug Power updates on Amazon's warrant and vesting
Jan. 05, 2021 10:07 AM ETPlug Power Inc. (PLUG)By: Akanksha Bakshi, SA News Editor
Plug Power (PLUG +1.6%) issued a warrant (April 2017) to Amazon.com NV Investment Holdings LLC to acquire up to 55,286,696 shares of its common stock.
As of November 2, 2020, 34,917,912 shares had vested under the warrant at an exercise price of $1.1893/share based on total cumulative spending with Plug Power in excess of $200M.
Under the terms of the warrant, at the same time the exercise price for the unvested 20,368,784 shares was set at $13.81005 per share.
On December 31, 2020, Plug Power waived the remaining vesting conditions under the warrant, which resulted in the vesting of the remaining 20,368,784 unvested shares under the warrant.
This vesting is expected to result in a substantial one-time non-cash charge in the quarter ended December 31, 2020.
8-K