Google Gains Right to Buy Up to $12.2 Billion in Marvell Stock

Odaily News, Marvell Technology and Google announced an expanded chip development collaboration, signing a stock subscription rights agreement that allows Google to purchase Marvell shares for approximately $12.2 billion in the future. According to regulatory filings submitted by Marvell, Google can purchase up to 58,970,907 Marvell shares at an exercise price of $206.58 per share. Of these, approximately 1.4 million shares will vest quarterly in installments during the first year after the agreement is signed, while the remaining shares will gradually unlock based on revenue performance generated from jointly developed products. From the third quarter of fiscal year 2027 through the end of fiscal year 2033, for every $500 million in revenue contributed by related products, Google will receive a corresponding batch of stock subscription rights. (Bloomberg)