Faraday Future Secures $30 Mln In Financing Commitments From Investors In Middle East, U.S. And Asia

(RTTNews) - Faraday Future Intelligent Electric Inc. (FFIE) announced that it has secured $30 million in financing commitments from investors in the Middle East, the United States, and Asia.

The new financing commitment includes a previously funded $7.50 million and $22.50 million of new investment in the form of 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, subject to adjustment as set forth therein. The shares of common stock underlying the Convertible Notes and Warrants issued in the Financing are currently unregistered, subject to trading restrictions, and not immediately tradable.