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Amazon Snaps Up Option to Buy Stake in AI Truck-Driving Startup

  • U.S. e-commerce giant could buy up to 20% of Plus shares
  • Plus is planning SPAC listing via merger with Hennessy Capital
Plus Autonomous Truck
Plus Autonomous TruckSource: Plus/Businesswire
Updated on Inc. has placed an order for 1,000 autonomous driving systems from self-driving truck technology startup Plus and has acquired the option to buy a stake of as much as 20%, Plus said in a regulatory filing, confirming an earlier Bloomberg report.

Amazon has the right to buy preferred shares of Plus via a warrant at a price of $0.46647 per share, the filing shows. That amounts to a roughly 20% stake based on Plus’s shares outstanding before its planned merger with special purpose acquisition company Hennessy Capital Investment Corp. V.