Amazon Gets Warrants to Buy Up to $340 Million of Generac Stock

According to CNBC, Amazon was granted warrants to purchase up to $340 million worth of Generac stock, sending Generac shares more than 40% higher in extended trading on Wednesday. Generac said in a securities filing that it issued warrants to Amazon to acquire up to 1.69 million shares at $200.93 each, for a total investment that could be worth as much as $8 billion. The company also said it will supply Amazon with backup power generators for its data centers, with initial deliveries expected to total $2.4 billion in 2027 and 2028. The warrants are equivalent to almost 3% of Generac's outstanding shares, and the company had a market value of about $10.3 billion as of Wednesday's close.