Faraday Future and FFR Jointly Launch FF Nova, First Embodied AI Humanoid Robot Priced Below $2,500 in U.S., FF Nova Mini, Physical AI Spark Program Curriculum, Nova Reinforcement Learning Developer Program and Developer Community Recruitment
Faraday Future and FFR signed definitive agreements on October 12 for FFR to acquire FFAI's robotics assets and business in an all-stock deal valuing the business at approximately $200 million. FFR will issue shares to FFAI at $2.246 per share — roughly a 50% premium to FFR's $1.50 close on signing — and FFAI will hold approximately 65.7% of FFR post-close, subject to an 18-month lockup; FFR also secured up to $10 million in market-priced PIPE financing. The companies simultaneously launched FF Nova, a $2,490 entry-level humanoid robot, and the $299 FF Nova Mini education robot, with a three-phase rollout starting with a 100-unit invitation-only phase.
Key figures
- Deal Value Usd
- 200000000
- Lockup
- 18 months on newly issued shares
- Nova price
- $2,490
- Public float
- approximately 13 million shares (approximately 10.7%)
- Ffr valuation
- $60 million fully diluted
- Pipe financing
- up to $10 million
- Nova mini price
- $299
- Phase one units
- 100
- Premium to ffr close
- approximately 50%
- Ffai post close stake
- approximately 65.7%
- Ffr share issuance price
- $2.246 per share
- Nova mini curriculum price
- $499
- Nova developer skills package
- $390
AI analysis
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