Posted on 08 Feb 2023
Nasdaq-listed automaker Faraday Future plans to start delivery of the FF 91 Futurist before the end of April if related funds arrive on time, Kallanish learns.
Faraday Future said in an announcement it is expected to raise $135 million in convertible secured notes financing commitments. Along with its previously raised $33.4m, the company believes the total funds are able to support its related operations in order to ensure mass production of FF 91 Futurist in late March.
FF Global Partners LLC (FFGP)'s spokesperson said: "I am glad to see that Faraday Future has obtained commitments for this key round of financing with the cooperation and support of FFGP. At the same time, FFGP also assisted Faraday Future in solving the crucial warrant issue and helping ensure the maximisation of interests of all stakeholders with the timely start of production (SOP) of the FF 91 Futurist."
Faraday Future also announced it has decided to hold a special stockholder meeting on 28 February.
Source:Kallanish
