- \n
- \nIncrease the Subscription Amount from $10 million to $12 million, $500,000 of which was used to purchase shares of Common Stock and $11.5 million of which was used to purchase shares of the Company\u2019s newly designated Series C preferred stock, which is convertible into the Company\u2019 Common Stock. AIXC and the designated third-party will use the US$500,000 of common stock to explore the real-world asset (RWA) business.<\/p>\n<\/li>\n
- \nReplace the true-up provision by issuance of a warrant. On the Closing Date, the Company issued to the Investor a warrant to purchase up to 1,000,000 shares of Common Stock at an exercise price of $1.50 per share with a term of 4 years, exercisable only after the delivery of the 500th FX Super One vehicle to customers.<\/p>\n<\/li>\n
- \nThe proceeds support the Company\u2019s EAI business, especially the target of 1,000 deliveries and continuous positive contribution margin of robotics in 2026.<\/p>\n<\/li>\n
- \nFF believes the execution of this amendment demonstrates the potential of the complementary relationship between its core EAI business and the digital asset ecosystem and may provide a framework for future cooperation.<\/p>\n<\/li>\n<\/ul>\n
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LOS ANGELES–(BUSINESS WIRE<\/a>)–
\nFaraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (\u201cFaraday Future,\u201d \u201cFF\u201d or the \u201cCompany\u201d), a California-based global shared intelligent electric mobility ecosystem company, today announced \u201c\u201dthat it has amended and restated the securities purchase agreement, initially entered into on February 4, 2026 (the \u201c\u201cInitial Agreement\u201c\u201c and such Initial Agreement as so amended and restated, the \u201cA&R Agreement\u201d) with Gold King Arthur Holding Limited (the \u201cPurchaser\u201d), a designated third-party investor identified by AIxCrypto Holdings Inc. (NASDAQ: AIXC) (\u201cAIxC\u201d), to (i) increase to the total purchase amount from $10 million to $12 million, $500,000 for common stock and $11.5 million for preferred stock; (ii) terminate the anti-dilution true-up provision and replace it with a fixed, milestone-linked warrant, and (iii) revise the per share purchase price to the average closing price of the 10 trading days prior to the signing date of the A&R Agreement (the \u201cSigning Date\u201d).<\/p>\nThis press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20260415747249\/en\/<\/a><\/p>\n
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<\/p>\nFaraday Future Amends $10 Million Equity Investment Agreement to $12 Million, Eliminating Anti-Dilution Provision to Strengthen Stockholder Protections<\/p>\n<\/div>\n
\nThe Company believes the Amendment is favorable to existing stockholders, by replacing dilution exposure with a fixed obligation tied to operational milestones and increasing the total purchase amount to support its EAI Strategy Execution.<\/p>\n
Amendment to Securities Purchase Agreement<\/b><\/p>\n
\nThe Company and the Purchaser agreed to amend and restate in the Initial Agreement to, among other things,<\/p>\n
- \n
- \nincrease the total securities purchase amount from $10 million to $12 million, $500,000 of which was used to purchase shares of common stock and $11.5 million of which was used to purchase a newly-designated series of the Company\u2019s preferred stock, which is convertible into shares of Common Stock;<\/p>\n<\/li>\n
- \nremove the true-up provision set forth in Section 4.5 of the Initial Agreement in exchange for the issuance of a common stock purchase warrant. On the closing date, the Company issued to the Investor a warrant to purchase up to 1,000,000 shares of Common Stock at an exercise price of $1.50 per share with a term of 4 years, exercisable only after the Company delivers the 500th FX Super One vehicle to customers.; and<\/p>\n<\/li>\n
- \nrevise the per share purchase price to the average closing price over the 10 trading days prior to the signing date as of April 14, 2026. Based on the new reference price of $0.26 per share, the $500,000 common stock investment corresponds to the issuance of 1,923,077 shares of Class A Common Stock.<\/p>\n<\/li>\n<\/ol>\n
\nThe company believes the amendment improves compatibility with future financing transactions, and reflects the investor\u2019s commitment to long-term value creation aligned with the Company\u2019s operational milestones rather than short-term price compensation.<\/p>\n
Transaction Benefits and Use of Proceeds<\/b><\/p>\n
\nThe Company has received $12 million in gross proceeds, before offering expenses, pursuant to the A&R Agreement, which AIxC has pre-funded to the Company on behalf of such investor in advance of closing of the transaction. This is an equity financing, with low transaction fees\u2014 resulting in a cost-efficient capital structure. Proceeds support the Company\u2019s robotics and FX Super One businesses, including the commencement of initial EAI robotics deliveries and the continued advancement of the FX Super One strategy as the Company progresses toward its start-of-delivery targets.<\/p>\n
\nFF believes this transaction demonstrates the potential of the complementary relationship between its core EAI business and the digital asset ecosystem and may provide a framework for future cooperation.<\/p>\n
Management Commentary<\/b><\/p>\n
\u201cThis A&R Agreement eliminates a source of uncertainty in our capital structure and demonstrates our commitment to protecting stockholder interests. By replacing the anti-dilution provision with a fixed, milestone-linked warrant at a premium exercise price, we are aligning this investment with our execution roadmap. With the $12 million in proceeds, which the accredited investor pre-funded by AIxC on behalf of such investor in advance of closing, now actively supporting EAI robotics deliveries and FX Super One advancement \u2014 and with no convertible debt \u2014 we believe this transaction reflects a disciplined approach to capital formation,\u201d<\/i> stated Jerry Wang, Global President of Faraday Future.<\/p>\n
\nThe shares of Class A common stock underlying the Warrant and the convertible preferred stock, if and when issued upon exercise or conversion, as applicable, will initially be unregistered and subject to customary transfer restrictions under federal and state securities laws. For additional information regarding the material terms of the A&R Agreement and the Warrant, and the material right and obligations of the convertible preferred stock, please see the Company\u2019s Current Report on Form 8-K to be filed with the Securities and Exchange Commission on or around the date hereof.<\/p>\n
About Faraday Future<\/b><\/p>\n
\nFaraday Future is a California-based global intelligent Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand\u2019s pursuit of ultra-luxury, cutting-edge technology, and high performance. FF\u2019s second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https:\/\/www.ff.com\/<\/a><\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nThis press release includes \u201cforward-looking statements\u201d within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \u201cplan to,\u201d \u201ccan,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cfuture,\u201d \u201cpotential,\u201d and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Company\u2019s deployment of investment proceeds, EAI robotics production and delivery plans, FX Super One delivery plans, the exercisability and terms of the Warrant, the anticipated benefits of the A&R Agreement to the Company\u2019s capital structure and stockholders, and AIxC\u2019s digital asset tokenization plans, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company\u2019s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.<\/p>\n
\nImportant factors, among others, that may affect actual results or outcomes include: the Company\u2019s ability to commence and ramp production and delivery of the FX Super One on the anticipated timeline; the Company\u2019s ability to achieve the 500-vehicle delivery milestone that triggers the exercisability of the Warrant; demand for the Company\u2019s robotics products; competition in the robotics industry; the Company\u2019s reliance on a single OEM for robotics products; tariff uncertainty for imported products; AIxC\u2019s ability to execute on its digital asset tokenization plans, which is not within the Company\u2019s control; the Company\u2019s ability to maintain its listing on Nasdaq; the need for additional share capital to fully execute on its strategy; the Company\u2019s ability to secure the necessary funding to execute on the FX strategy; the Company\u2019s ability to continue as a going concern; general market and economic conditions; and the other factors described in the Company\u2019s most recent Annual Report on Form 10-K and subsequent periodic filings with the SEC. Any forward-looking statements speak only as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.<\/p>\n
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View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260415747249\/en\/<\/a><\/span><\/p>\n
Investor Relations (English):<\/b>ir@ff.com
\n<\/a>
Investors (Chinese): <\/b>cn-ir@ff.com
\n<\/a>
Media: <\/b>john.schilling@ff.com<\/a><\/p>\nKEYWORDS:<\/b> California United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Vehicle Technology Hardware Luxury Robotics Consumer Electronics Technology Autonomous Driving\/Vehicles Automotive Retail Engineering Automotive Manufacturing Manufacturing<\/p>\n
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