NVDA
NVIDIA
-- 140.110 RGTI
Rigetti Computing
-- 10.0400 TSLA
Tesla
-- 394.940 PLTR
Palantir
-- 68.230 AMD
Advanced Micro Devices
-- 121.840 
NEWS
Faraday Future Secures $30 Million Financing to Strengthen the Company's Core Business and Continued Ramp-Up of the Faraday X (FX) Strategy
Sunday, 22nd December at 5:11 pm
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF", "Faraday Future", or "Company"), a California-based technology company specializing in artificial intelligence electric vehicles (AIEV), announced that it has secured approximately $30 million in cash financing commitments. The funds will be used to accelerate the Company's growth and the development of Faraday X (FX), FF's strategy of launching affordable high performance AIEV equipped vehicles with cutting edge technology, filling the U.S. market gap in this segment, and for general corporate purposes.
Targeting the mainstream EV market in the U.S., FF is expected to have its first two FX prototype mules arrive in Los Angeles later this month, with product development and testing scheduled to begin at FF's manufacturing facility in Hanford, CA. As part of their delivery journey, the two prototype mules will stop in Las Vegas from January 5 to 7, 2025, where the Company will provide updates on its FX strategy.
The $30 million financing commitment includes a pre-funded $7.5 million, which was received in the fourth quarter of this year, and $22.5 million in new cash commitments (the "Financing"), structured in the form of unsecured convertible notes ("Convertible Notes") and warrants to acquire additional shares of the Company's common stock ("Warrants"). The conversion price for the Convertible Notes and exercise price for the Warrants are $1.16 and $1.392 per share, respectively, subject to adjustment as set forth therein. The shares of common stock underlying the Convertible Notes and Warrants issued in the Financing are currently unregistered, subject to trading restrictions, and not immediately tradable. The Financing is subject to customary closing conditions. For additional information regarding the material terms relating to the Financing, please see the Company's Form 8-K to be filed with the SEC on December 23, 2024.
Sunday, 22nd December at 5:11 pm
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF", "Faraday Future", or "Company"), a California-based technology company specializing in artificial intelligence electric vehicles (AIEV), announced that it has secured approximately $30 million in cash financing commitments. The funds will be used to accelerate the Company's growth and the development of Faraday X (FX), FF's strategy of launching affordable high performance AIEV equipped vehicles with cutting edge technology, filling the U.S. market gap in this segment, and for general corporate purposes.
Targeting the mainstream EV market in the U.S., FF is expected to have its first two FX prototype mules arrive in Los Angeles later this month, with product development and testing scheduled to begin at FF's manufacturing facility in Hanford, CA. As part of their delivery journey, the two prototype mules will stop in Las Vegas from January 5 to 7, 2025, where the Company will provide updates on its FX strategy.
The $30 million financing commitment includes a pre-funded $7.5 million, which was received in the fourth quarter of this year, and $22.5 million in new cash commitments (the "Financing"), structured in the form of unsecured convertible notes ("Convertible Notes") and warrants to acquire additional shares of the Company's common stock ("Warrants"). The conversion price for the Convertible Notes and exercise price for the Warrants are $1.16 and $1.392 per share, respectively, subject to adjustment as set forth therein. The shares of common stock underlying the Convertible Notes and Warrants issued in the Financing are currently unregistered, subject to trading restrictions, and not immediately tradable. The Financing is subject to customary closing conditions. For additional information regarding the material terms relating to the Financing, please see the Company's Form 8-K to be filed with the SEC on December 23, 2024.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
MIKEA5799 : some People are saying ,it's a scam company? Why?
Jaguar8 OP MIKEA5799 : Scam or not, just trade the chart. It will only matter if you invest on it which I don’t.
Jaguar8 OP MIKEA5799 : Like MULN, the CEO Is a scam but if you trade the chart for a day trade you can still earn a bit. Investing is altogether different
Trytosaveabit Jaguar8 OP : Sage wisdom right there! Hope you’re having a great Sunday Brother!
Jaguar8 OP Trytosaveabit : Hi brother! Just relaxing today listening to Justin Bieber’s holy songs. I think I want to be off trading after Christmas then resume new year
Trytosaveabit Jaguar8 OP : Sometimes a break can do wonders! Gives you a great reset! Wanna know what’s Tooo Funny! I was thinking of taking a break as well! K9 Cable Restraint season opens December 26th and since I’m setting for Beaver that just started yesterday! I am really thinking of just hanging some cables as well!
Jaguar8 OP Trytosaveabit : Me too! I just want to really be relaxed entering new year.
Wave_Rider MIKEA5799 : Based on what I heard, the founder owes lots of money in China then escaped to US. Started to sell his idea of making EV cars for a while but without much progress in actual manufacture
MIKEA5799 Wave_Rider : thanks for sharing !
Dreamking60 : No long term investment on this company because the owner’s
View more comments...