Faraday Future enters settlement with Palantir to pay $5M, resolve arbitration

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Company agreed to pay Palantir $5.0 million in four quarterly installments during 2024.
Settlement resolves Palantir's arbitration demand related to July 2021 Master Subscription Agreement.
After full payment, parties will file stipulation of dismissal with prejudice.
Effective date March 11, 2024; settlement and release agreement executed.

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 Settlement Agreement with Palantir Technologies, Inc. valued at $5.0 million (effective 2024-03-11).

Action: entry
Agreement: settlement
Counterparty: Palantir Technologies, Inc.
Value: $5.0 million
Effective: 2024-03-11

Exact text from the filing

On March 11, 2024 (the “Effective Date”), the Company and Palantir entered into a settlement and release agreement (the “Settlement Agreement”)

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FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-023080

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