Faraday Future completes sale-leaseback of Hanford facility, generating up to $12M for improvements

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Exercised option to purchase and simultaneously completed sale-leaseback of Hanford, CA manufacturing plant.
Transaction expected to provide up to $12M in non-dilutive capital for facility improvements and production ramp-up.
New lease has 5-year term with monthly payment of $355,197, plus five-year extension and purchase option after year two.
Lease obligations guaranteed by Faraday Future; tenant improvement allowance of up to $12M available.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FARADAY FUTURE INTELLIGENT ELECTRIC INC. entered into Lease Agreement with 10701 Idaho Owner, LLC valued at $12 million of tenant improvement allowance (effective 2023-10-19).

Action: entry
Agreement: lease
Counterparty: 10701 Idaho Owner, LLC
Value: $12 million of tenant improvement allowance
Effective: 2023-10-19

Exact text from the filing

On October 19, 2023, Faraday&Future Inc. (the "Tenant"), a subsidiary of Faraday Future Intelligent Electric Inc. (the "Company), entered into a sale leaseback transaction whereby it has exercised its option to purchase its Hanford manufacturing facility (the "Property") and simultaneously completed a sale leaseback to Ocean West Capital Partners ("Landlord") pursuant to that certain Lease Agreement, dated as of October 19, 2023, by and between the Tenant and 10701 Idaho Owner, LLC (the "Lease Agreement").

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001013762-23-004944

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.