Electrovaya (NASDAQ:ELVA) Deal Gives Amazon (NASDAQ:AMZN) a Path to a Board Observer and 20% Stake
Electrovaya’s agreement with Amazon gives the retailer a path to a 20% fully diluted holding, assuming options and warrants become shares, plus a non-voting observer at board meetings once a lower ownership threshold is met. Electrovaya shares rose 37% to $10.82 by 2:54 p.m. EDT on Wednesday after the terms were disclosed.