Faraday Future Signs Deal to Transfer Robotics Business to FFR at $200 Mln Valuation

By Reuters News

Oct 14 (Reuters) - Faraday Future Intelligent Electric Inc FFAI.O:

  • FARADAY FUTURE INTELLIGENT ELECTRIC INC: FF EAI ROBOTICS ECOSYSTEM SECURED ITS FIRST ROUND OF PIPE FINANCING OF UP TO $10 MILLION

  • FARADAY FUTURE ANNOUNCES THAT IT HAS SIGNED A DEFINITIVE AGREEMENT WITH FFR TO COMBINE FFAI’S FULL ROBOTICS BUSINESS AT APPROX. $200 MILLION VALUATION AND $2.246 PER SHARE, REPRESENTING APPROXIMATELY 50 PERCENT PREMIUM

  • FARADAY FUTURE INTELLIGENT ELECTRIC INC: FFAI, MANAGEMENT AND EMPLOYEES, AND PIPE INVESTORS WILL COLLECTIVELY HOLD APPROXIMATELY 89.3%

  • FARADAY FUTURE INTELLIGENT ELECTRIC INC: FOLLOWING CLOSING, FFAI IS EXPECTED TO BE MAJORITY AND CONTROLLING STOCKHOLDER OF FFR

  • FARADAY FUTURE INTELLIGENT ELECTRIC - PROJECTS 2026-2030 ROBOTICS REVENUE $1.98 BILLION, 2030 GROSS MARGIN 54%, SALES OVER 130,000 UNITS

Further company coverage: FFAI.O

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