Faraday Future Intelligent Electric Unveils $30 Million Financing Commitments-February 2024-www.financetom.com

Faraday Future Intelligent Electric Unveils $30 Million Financing Commitments

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Faraday Future Intelligent Electric Unveils $30 Million Financing Commitments

Sep 6, 2024 7:12 AM

04:07 AM EDT, 09/06/2024 (MT Newswires) -- Faraday Future Intelligent Electric ( FFIE ) disclosed late Thursday $30 million in financing commitments from investors in the Middle East, the US and Asia.

The company said the participation includes Master Investment, an investment firm owned by Sheikh Abdulla Al Qassimi from Ras Al Khaimah in the United Arab Emirates.

The financing includes $7.5 million and $22.5 million of new investment via convertible notes and warrants to acquire additional shares of the company's common stock.

The conversion price for the convertible notes and exercise price for the warrants are $5.24 and $6.29 per share, respectively.

Price: 5.15, Change: -0.06, Percent Change: -1.16

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