Ranpak Holdings (PACK) disclosed earlier that the company and Amazon.com (AMZN) entered into a transaction agreement under which Ranpak agreed to issue to a wholly-owned affiliate of Amazon a warrant to acquire up to 18,716,456 shares of the company’s common stock at an exercise price of $6.8308 per share. The warrant shares are vested on the date of the transaction agreement. The remainder of the shares are subject to vesting over time based on payments made by Amazon or on its behalf, with all warrant shares vesting upon an aggregate spend of $400M. Ranpak in afternoon trading is up 31%, or $1.80, to $7.54.
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