Marvell Technology, Inc. has announced an expansion of its strategic collaboration with Amazon Web Services (AWS), also known as the Customer. This expansion includes a Warrant and Transaction Agreement that has Marvell issuing a warrant for AWS to potentially acquire up to 4,180,683 shares of Marvell's common stock. These shares are linked to AWS's purchase of Marvell products through January 5, 2030, including about 2.7 million shares for custom AI products and 1.2 million shares for other products. The Warrant can be exercised at any time before December 2, 2031, with an exercise price of $87.7706 per share, subject to terms including customary anti-dilution adjustments. The warrant and shares have not been registered under the Securities Act but are issued under an exemption.
List of proper names: - Marvell Technology, Inc. - Amazon Web Services (AWS) - Mark Casper (EVP, Chief Legal Officer and Secretary of Marvell Technology, Inc.)