Faraday Future issues USD 25 million convertible promissory notes in new financing

Faraday Future Intelligent Electric

Faraday Future Intelligent Electric

FFAI

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  • Faraday Future entered Securities Purchase Agreement to issue convertible promissory notes totaling USD 25 million.
  • USD 12.5 million to be remitted to operating account; remaining USD 12.5 million placed in investor-controlled accounts, released upon satisfaction of conditions.
  • Transaction brings recent financing raised over past two months to USD 70 million, aimed at funding Phase 1 goals of its robotics business plan through end of 2026.


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