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Amazon obtains right to buy up to $340 million in Generac stock, boosting power company's share price by over 40% in extended trading
As part of a deal to supply backup power generators for Amazon's data centers, Generac issued warrants to Amazon to acquire up to 1.69 million shares at $200.93 apiece. The total potential investment could be worth as much as $8 billion. Initial deliveries of generators are expected to total $2.4 billion in 2027 and 2028. The warrants are equivalent to almost 3% of Generac's outstanding shares.
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