Faraday Future secures up to $105M in new funding commitments to support FF 91 production

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Total funding of up to $105M includes $90M new commitment led by ATW Partners and $15M accelerated existing commitment.
Metaverse Horizon and VW Investment waived conditions and prefunded $25.2M toward their May 2023 $100M commitment.
Funding from secured and unsecured facilities; unsecured portion subject to effective registration statement and stockholder approval.
Proceeds support FF 91 production scaling, sales/service system, global business development, and operating cash flow.

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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 FFVV Joinder with FF Vitality Ventures LLC valued at up to $40,000,000 (effective 2023-06-26).

Action: entry
Agreement: equity purchase
Counterparty: FF Vitality Ventures LLC
Value: up to $40,000,000
Effective: 2023-06-26

Exact text from the filing

On June 26, 2023, the Company entered into a Joinder and Amendment Agreement (the “FFVV Joinder”) with FF Vitality Ventures LLC (“FFVV”)

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

FARADAY FUTURE INTELLIGENT ELECTRIC INC. amended Amendment No. 1 with Metaverse Horizon Limited and V W Investment Holding Limited (effective 2023-06-26).

Action: amendment
Agreement: equity purchase
Counterparty: Metaverse Horizon Limited and V W Investment Holding Limited
Effective: 2023-06-26

Exact text from the filing

On June 26, 2023, Faraday Future Intelligent Electric Inc. (the “Company”) entered into Amendment No. 1 (“Amendment No. 1”) to that certain Securities Purchase Agreement dated as of May 8, 2023 (the “Unsecured SPA”), by and among the Company, Metaverse Horizon Limited and V W Investment Holding Limited, as purchasers (collectively with additional purchasers from time to time party thereto, the “Unsecured SPA Purchasers”).

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FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-051859

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