ComcastCorp. inked a warrant agreement to buy shares of Harmonic Inc.'scommon stock based on certain performance benchmarks.
Pursuant to the warrant agreement, Comcast may buy up to7,816,162 common shares of video equipment firmHarmonic at a price of $4.76 per share, which was the weighted-average tradingprice of Harmonic's common stock for the 10 trading days prior to Sept. 26,according to an SEC filing.
Comcast's right to exercise the warrant is subject tocertain vesting triggers relating to the execution of the warrant, certainpricing elections by Comcast, the successful completion of field trials ofcertain of Harmonic's products, and certain payments by Comcast for Harmonic'sproducts and services.
The warrant is set to expire on Sept. 26, 2023, or the priorconsummation of a change of control of Harmonic.