Velodyne Lidar Shares Surged 25% in Morning Trading

Tiger Newspress2022-02-08

Velodyne Lidar shares surged 25% in morning trading as Amazon received a warrant to purchase up to 39.6M of the company's shares.The vesting of the warrant shares is based on discretionary payments made by Amazon pursuant to existing commercial agreements between Velodyne and Amazon, according to an 8-K filing. The warrant may be any time before Feb. 4, 2030 at an exercise price of $4.18 per share, which was determined based on the 30-day volume-weighted average price for the common stock as of Feb 3.

The warrant shares will vest over time based on discretionary payments to Velodyne by Amazon (whether made directly from Amazon, its affiliates or by a third party on behalf of Amazon) of up to $200M, according to the filing.

The positive news from Amazon comes after the stock plunged almost 85% over the past year amid internal struggles at the company with the former CEO stepping down in July. The ousted founder of Velodyne in August called for the resignation of the sensor company's board chairman and a director.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Gladys8jk
    2022-02-09
    Gladys8jk
    Ok
  • Success88
    2022-02-09
    Success88
    Okie
  • LemonSun
    2022-02-08
    LemonSun
    Ok
  • PYX
    2022-02-08
    PYX
    Like
  • TTTa
    2022-02-08
    TTTa
    Hello
  • Tombolofish
    2022-02-08
    Tombolofish
    Yesterday post market surge 60%, today pre market only surge 25%, means it actually drop more than 30%. Shorting it will gain quick profits 
Leave a comment
11