BUZZ-3M shares rise due to expanded cooperation with Amazon and stock warrant trading

October 20 - ** The stock price of industrial giant 3M (MMM.N) rose 3.7% in pre-market trading to $168

** The company is (link) expanding its business partnership with Amazon AMZN.O and has issued a 3M stock warrant to Amazon worth more than $521 million

** The warrant gives an Amazon subsidiary the right to purchase up to 3.16 million shares of 3M stock at $164.89 per share within seven years

** As Amazon procures optical connectivity and other data center products from 3M, approximately 85% of the warrant shares will be unlocked progressively; all shares will be fully unlocked when total purchases reach $6 billion

** The remaining 15% will only be unlocked upon the fulfillment of specific milestone-based conditions

** As of the close of the previous trading day, 3M's stock price had risen 1.2% for the year, while the S&P 500 index gained 12.3% over the same period .SPX

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