Mergers & Acquisitions ·
Flex amends Amazon warrant to issue Spinco warrants in lieu of distribution shares for planned spin-off
FLEXFlex Ltd.
Flex Ltd. and Amazon.com entered into an amendment to a warrant covering up to 3,859,851 ordinary shares at $51.29 per share. The amendment adjusts terms related to the planned separation of Flex's cloud and power infrastructure business into Axiom Solutions International, Inc., ensuring Amazon receives warrants for Spinco stock instead of direct distribution shares. This corporate restructuring is part of a broader strategy to create an independent publicly traded entity for its cloud division. Flex Ltd. operates in the electronics manufacturing services industry.