Faraday Future receives SEC Wells Notice over 2021 PIPE/SPAC disclosures; secures $105M financing

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Received SEC Wells Notice alleging false/misleading statements in 2021 PIPE and SPAC listing regarding related party transactions and YT Jia's role.
Global President Jerry Wang and Global Co-CEO YT Jia also received individual Wells Notices; two former employees also received.
Secured $82M new financing via convertible notes and warrants, plus $22M from prior conversions, totaling ~$105M in cash.
Financing led by existing institutional investors including Master Investment Group; initial conversion price based on market close July 11.
Company expects sufficient capital to launch FX Super One and accelerate FF and FX brand development.

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