America Online, a major Internet service provider, has been given the right to buy 1.9 million preferred shares of Google stock. This venture comes from a deal made in June 2002 between the two giants, as reported by AOL in a recent SEC filing.
This warrant, drawn out over 5 years, gives AOL the right to the shares at a price of $22 million, around $12 dollars a share. As of now, the values of the stock nor AOL's ownership percentage are not known.
Under the agreements of the warrant, AOL must wait 180 days before it transfers Google's shares before the IPO. After Google files, AOL must wait 90 days before transfers can take place.
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