Electrovaya Secures Amazon Deal

The warrants issued to Amazon total up to 13,880,345 common shares at an exercise price of US$8.56 per share, exercisable for ten years; 5,545,880 warrants vest immediately upon execution, with the remainder vesting in tranches as incremental purchases reach up to US$280 million, and may vest earlier in certain transactions; the instrument includes anti-dilution provisions and transfer restrictions, and the Warrantholder has no voting rights until exercise.

Vest­ing structure appears to vary by disclosure: one source says all warrants become fully vested upon achieving cumulative purchases of US$280 million, while another notes vesting occurs in staged tranches tied to incremental purchases up to US$280 million, implying potential differences in timing or conditions.

Electrovaya's market metrics at the time show a market capitalization near $386 million and a very high valuation with a P/E ratio around 71.7x, alongside a GF Score of 71/100 and a Financial Strength rating of 7/10, suggesting strong growth expectations but elevated valuation risk.

The Fly quotes Electrovaya CEO Raj DasGupta asserting the Infinity Battery Technology has demonstrated real performance in demanding material handling environments and expresses confidence in expanding to other industrial applications where safety and longevity are critical.