Faraday Future to sell robotics unit to majority-owned AIxC for $200M in stock; related-party term sheet

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Purchase price expected at $200M, payable in AIxC common and non-voting convertible preferred; per-share price is lower of $2.246 or 5-day average Nasdaq close before definitive agreement signing.
Related party: FFAI Global Executive Chairman Jerry Wang is also AIxC CEO; FFAI special committee and board approved the non-binding term sheet on Sept. 25, 2026.
Deal remains subject to a definitive agreement, special committee fairness opinion, Nasdaq and regulatory approvals; expected to close in Q4 2026.
FFAI would receive 18-month lock-up on AIxC stock, a concurrent PIPE of up to $30M at $254.87M pre-money valuation, and 2-year non-compete/non-solicit covering robotics, excluding FFAI's EV business.
AIxC pre-closing equity valuation $54.87M (24,428,874 fully diluted shares at $2.246); if per-share price is lower, AIxC plans special stock dividend of ($2.246 minus price)/price.

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