Faraday Future amends SPA: accelerates $5M Tranche B purchase, adds OID on Tranche C notes

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

FF Simplicity will buy $5M in Tranche B notes by March 27 (accelerated from April 21) with 6% OID.
Senyun commits: $10M Tranche C notes (4% OID) within 1 business day of S-1 effective + shareholder approval, then $15M within 5 business days.
FF Prosperity to purchase remaining 50% of its Tranche C commitment (4% OID) within 1 business day of S-1 effective + shareholder approval.
Company to reimburse Senyun and FF Simplicity up to $20,000 each for legal expenses.

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. amended Amendment No. 7 to Securities Purchase Agreement with FF Simplicity Ventures LLC, Senyun International Ltd., FF Prosperity Ventures LLC (effective 2023-03-23).

Action: amendment
Agreement: equity purchase
Counterparty: FF Simplicity Ventures LLC, Senyun International Ltd., FF Prosperity Ventures LLC
Effective: 2023-03-23

Exact text from the filing

On March 23, 2023, Faraday Future Intelligent Electric Inc. (the “Company”) entered into that certain Amendment No. 7 to Securities Purchase Agreement (“Amendment No. 7”) with FF Simplicity Ventures LLC (“FF Simplicity”), a Delaware limited liability company, as administrative agent, collateral agent and purchaser, Senyun International Ltd. (“Senyun”), as purchaser, and FF Prosperity Ventures LLC (“FF Prosperity”), a Delaware limited liability company, as purchaser

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Source: SEC EDGAR

accession 0001213900-23-022236

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