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Leidi Network, April 20
Faraday Future (FF) founder and co-CEO Jia Yueting recently revealed that FF has received a $45 million investment from a mid-to-large institutional investor in the United States, which has been fully credited. After the SEC investigation concluded without penalties, FF successfully introduced mid-to-large institutional investors and achieved a financing deal with the lowest dilution cost and the best terms. FF is confident in improving the company's operational fundamentals and achieving stock price compliance within six months without a reverse stock split.
FF stated that the financing will be used to accelerate the implementation of FF's &#34;trinity&#34; EAI ecological strategy, focusing on supporting the EAI robotics business and phased delivery of the FX Super One. More importantly, it has basically met the funding requirements for FF to achieve the first phase strategic goals of the EAI robotics.
&#34;This financing has significant implications for the capital market,&#34; Jia Yueting stated. &#34;Less than a month after the SEC investigation concluded without penalties, the company successfully attracted mid-to-large institutional investors, reflecting the capital market's recognition of FF's strategy and business progress, and paving the way for the introduction of strategic investors in the future.&#34;
It is understood that FF will also hold an EAI Developer Ecosystem Forum and launch the FF EAI Robotics Open Source Developer Platform on April 25 in the San Francisco Bay Area to discuss the EAI industry.
$45 million financing fully credited
FF introduced that this financing is the company's lowest dilution cost and best terms financing deal in recent years. The agreement stipulates that investors can only redeem cash or convert shares under specific conditions after a six-month lock-up period, which means there is at least a six-month lock-up period for shares. Additionally, the conversion price is based on the market stock price at least six months later, rather than the current stock price of FF, meaning FF only needs to reserve the corresponding authorized shares for investors after the approval of this year's annual shareholders' meeting.
Jia Yueting explained that during the six-month lock-up period, the 120 million shares reserved for investors will neither dilute the rights of existing shareholders nor circulate in the secondary market; and after the six-month lock-up period expires, if the debt is repaid through share conversion, the actual number of shares received by investors will be recalculated based on the stock price at that time. For example, when FF's stock price recovers to above the compliance line of $1, such as calculating at a stock price of $1.5, investors will only need to convert about 30 million shares, with the remaining shares still belonging to FF.
FF's core founding members are returning comprehensively to improve the company's fundamentals and achieve stock price compliance within six months.
FF will hold its annual shareholders' meeting on May 22, during which a series of proposals aimed at supporting the execution of the company's global EAI strategy and long-term growth will be reviewed. In this regard, Jia Yueting provided detailed introductions to the proposals for share expansion, reverse stock split, and board elections to be submitted at the shareholders' meeting
Jia Yueting introduced that the equity expansion proposal intends to increase by 45%, amounting to 140 million authorized shares. In addition to approximately 120 million reserved shares for institutional investors, about 40 million shares will mainly be used for upcoming financing and team incentives. FF is confident that within six months, the stock price will significantly improve through business progress and operational fundamentals, hoping that the vast majority of the 120 million reserved shares will not need to be utilized.
Secondly, the share consolidation proposal is merely a last resort for the FF board of directors, not an active option. &#34;The most important purpose of the share consolidation proposal is to serve as a preventive, toolbox-style last resort to maintain our listing status on NASDAQ. It will only be implemented when the company deems it necessary for compliance,&#34; Jia Yueting said. &#34;We will do our utmost to drive the stock price back to compliance through improvements in operational fundamentals, striving to ensure that this tool of share consolidation is never needed.&#34;
FF stated that with core founding members Jerry Wang and Lucky Jiang serving as executive directors, along with significant changes and adjustments being made by the company's management, this series of organizational changes will establish a closed-loop supervisory mechanism for the board of directors focused on significantly improving operational performance, better accountable for investors' investment results and business performance, and maximizing the company's commercial value and the interests of shareholders and stockholders under legal and compliant conditions.
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Jia Yueting revealed that Faraday Future (FF) has secured $45 million in financing, and the funds have been received. This financing represents the company's lowest cost and best terms in recent years, aimed at supporting the EAI ecological strategy and robotics business. FF is confident in improving its operational fundamentals within six months and achieving compliance with its stock price. The financing agreement sets a six-month lock-up period during which investors cannot convert shares or redeem them, and the conversion price is based on future market prices. Jia Yueting stated that this financing reflects the capital market's recognition of FF's strategy

- Faraday Future (FF) has secured $45 million in financing from a U.S. mid-sized institutional investor, with funds earmarked for its EAI ecological strategy, particularly the EAI robotics business.  
- The financing marks a significant achievement within a month post the SEC investigation closure, indicating strong market confidence in FF's strategy and business progress.  
- FF plans to hold its annual shareholder meeting on May 22 to discuss proposals aimed at supporting its global EAI strategy and enhancing long-term growth.

Jia Yueting: The $45 million financing for FF has been received, striving for compliance with stock price regulations without equity