secwatch.observer — SEC 8-K summary
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Issuer:     FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI)
CIK:        0001805521
Form:       8-K
Filed at:   2026-04-20T23:59:59+00:00
Accession:  0001213900-26-045586
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Faraday Future raises $45M via convertible promissory notes with Streeterville Capital
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- Issued $15.78M A-1 Note (9% interest, 24-month term) and $30M secured B Note (3.5% interest, 24-month term).
- A-1 Note includes $750K OID and $30K expense reimbursement; prepayment requires 110% of outstanding balance.
- B Note is secured by cash in a deposit account under DACA; guaranteed by subsidiaries and pledged.
- Investor may redeem up to $750K/month under A Notes after 6 months, or limited redemptions upon stock price jumps.
- Proceeds: $15M to company from A-1; $30M held in deposit account for B Note, subject to exchange conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805521/000121390026045586/0001213900-26-045586-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805521/000121390026045586/ea0286915-8k_faraday.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-045586

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