Faraday Future amended its previously disclosed $82 million financing, entering an Amended and Restated Securities Purchase Agreement with investors that splits the remaining second closing into eight tranches, removes the obligation to issue most new warrants for those tranches, and eliminates resale registration requirements. In parallel, the company executed mutual warrant termination agreements canceling 5,359,525 legacy warrants issued under its December 2024 and March 2025 financings. Conversion and exercise prices on the amended notes and warrants will reset upon the final closing and stockholder approval. Management aims to increase flexibility and reduce potential dilution.
New agreement details:
- Agreement type: Amended and Restated Securities Purchase Agreement for senior unsecured convertible notes
- Counterparty: Investors
- Signed / Effective: Jul 09 2026 / Jul 09 2026
- Duration / Termination: At will
- Reason: Enhance financing flexibility and reduce dilution risk
Terminated agreement details:
- Agreement terminated: Common stock purchase warrants
- Counterparty: Warrant Holders
- Original agreement date: Dec 21 2024
- Termination date: Jul 09 2026
- Termination type: mutual
- Exit fees / payments: None
- Reason: Simplify capital structure and lower dilution
Original SEC Filing:
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