Faraday Future enters $200M standby equity facility with Yorkville, expandable to $350M

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Standby Equity Purchase Agreement with Yorkville affiliate for up to $200M, can be increased to $350M.
Shares sold at 97% of 3-day VWAP; limited to one-third of trading volume; commitment fee of 789,016 shares.
SEC declared Form S-1/A effective Nov 10, 2022; company expects to file new S-1 for ELOC.
Proceeds to fund FF 91 production; EPA range 381 miles, 1050 hp, 0-60 under 2.4 seconds.

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 Standby Equity Purchase Agreement with YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP valued at $200,000,000 (effective 2022-11-11).

Action: entry
Agreement: equity purchase
Counterparty: YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP
Value: $200,000,000
Effective: 2022-11-11

Exact text from the filing

On November 11, 2022, Faraday Future Intelligent Electric Inc. (the “Company”) entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP (“Yorkville”). Pursuant to the SEPA, the Company shall have the right (subject to certain conditions), but not the obligation, to sell to Yorkville up to $200,000,000 of its shares of Class A Common Stock

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

FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-22-071631

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