3M announced it has entered into an expanded strategic commercial relationship with Amazon.com, Inc. As part of the agreement, 3M issued a warrant to an Amazon subsidiary to purchase up to 3,162,015 shares of 3M common stock over a seven-year period, with vesting tied to Amazon's purchase of 3M's data center products.
Key Details
- Warrant Agreement: Amazon can purchase up to 3,162,015 shares of 3M stock at an exercise price of $164.89 per share over a seven-year term.
- Vesting Conditions: 85% of the warrant shares will vest subject to Amazon's payments for 3M's optical connectivity and other Data Center products, with full vesting once cumulative payments reach $6 billion.
- Effective Date: The agreement was entered into on October 19, 2026.