Abstract:
FF EAI Robotics (FFR) announced the signing of a final agreement with Faraday Future (FFAI). FFR will acquire FFAI’s robotic assets and business at a premium of approximately 50% at US$2.246 per share and a valuation of US$200 million. FFR will become the first Pure-Play stock in the U.S. stock market's "quad-core fully intelligent" humanoid and bionic EAI robot ecology, and aims to maintain the top three overall rankings in the EAI robot industry within five years.
According to the final agreement between the two parties, the valuation of FFAI’s robotics business is approximately US$200 million, and that of FFR is approximately US$60 million. FR will issue shares to FFAI at a premium of $2.246 per share, a premium of approximately 50% compared to the closing price of $1.50 on the signing day on October 12, and a premium of 55% compared to the closing price of $1.45 on the 13th. Both parties expect to complete all deliveries before the end of this month.
FFR also announced that the company completed the signing of the first round of PIPE financing of no more than US$10 million, which was carried out at market prices, with no price discounts, no warrants, and low related financing costs. It is understood that only about US$10 million in financing has been opened in this round, which not only meets the current funding needs, but also reduces unnecessary equity dilution to support the interests of shareholders.
After the completion of the transaction, FFAI will hold approximately 65.7% of FFR's shares, and the new shares will be locked for 18 months; management and employees will hold approximately 18.2%; PIPE investors will hold approximately 5.5%, which cannot be sold within six months or before resale registration takes effect; other FFR shareholders will account for approximately 10.7%. In addition to a total of approximately 89.3% of the shares held by FFAI, management and employees, and PIPE investors, the currently freely tradable public shares are only approximately 13 million shares, accounting for approximately 10.7%.
After the transaction is completed, FFR will become the first stock in Pure-Play, the "quad-core fully intelligent" humanoid and bionic EAI robot ecosystem in the U.S., and aims to maintain the top three overall rankings in the U.S. EAI robot industry within five years.
Currently, FFAI has launched more than 20 products covering three major forms, five major series, and more than a dozen models, and has continued to accelerate delivery to users. As of the end of September, the cumulative sales and shipments of EAI robots reached 817 units and maintained positive gross profit delivery.
According to FFAI management’s response to FF EAI Preliminary forecasts for the Robotics business predict that cumulative revenue from 2026 to 2030 will be approximately US$1.98 billion; sales of the robot body will reach 2,001 units in 2026, 7,400 units in 2027, and cumulative sales in the next five years will exceed 130,000 units; cumulative data supply will exceed 19 million hours in the next five years, and the proportion of revenue from other ecosystems other than the robot body in total revenue is expected to increase from 22% in 2026 to 49% in 2030.
Comments