Shares of SpartanNash Company (SPTN), a Michigan-based wholesale and retail grocery distributor, are declining more than 5 percent or $1.20 in Monday’s morning trade at $20.29.
Friday, SpartanNash’s shares gained more than 26 percent after the company said in a regulatory filing that it has issued warrants to Amazon in connection with a commercial agreement with the company. The warrants issued to Amazon allow the e-commerce giant to purchase up to an aggregate of 5.4 million shares of SpartanNash.
Upon vesting, the warrant shares may be acquired by Amazon at an exercise price per warrant share of $17.7257. The right to purchase the warrant shares will expire on October 7, 2027.
SpartanNash has traded in a range of $9.00 to $23.94 in the past 52 weeks.
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