On April 20, Faraday Future (FF) announced that it had fully received US$45 million in financing from an institutional investor in the United States. This is also the first medium-to-large financing completed by the company after the SEC investigation was concluded without penalty. It is understood that the funds will be mainly used to promote the implementation of its EAI ecological strategy, focusing on supporting the research and development investment of EAI robot business and the phased delivery of FX Super One.
According to the latest disclosed financing agreement, the transaction sets a lock-up period of at least 6 months.During this period, the 120 million shares reserved for investors will not enter the secondary market for circulation to avoid dilution of existing shareholders' rights. The conversion price will not refer to the current stock price, but will be recalculated based on the market price after the lock-up period expires. FF founder Jia Yueting stated to the public that the company's core goal is to improve its operating fundamentals within half a year without entering into a joint stock exchange, so as to achieve stock price compliance.
FF plans to hold its annual general meeting of shareholders on May 22, when it will consider a number of proposals including increasing authorized shares by 45% (approximately 140 million shares) and joint ventures.Jia Yueting emphasized that the newly authorized shares are mainly used for reserved shares, subsequent financing and team incentives, while the joint stock proposal is only a last resort to maintain Nasdaq listing status and is not an active option. At the organizational structure level, two core founding members, Jerry Wang and Lucky Jiang, have served as executive directors. In addition, FF will hold the EAI Developer Ecological Forum in the San Francisco Bay Area on April 25 and officially launch its robot open source open developer platform.