FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) Form 8-K — Aug 21, 2026
On August 20, 2026, Faraday Future Intelligent Electric entered an Amendment Agreement with investors in its March 2025 securities purchase agreement, restructuring the final closing of the $41 million financing into two separate closings and amending the form of its senior unsecured convertible notes. Three of the four original closings were completed between April and July 2025, with approximately $39.5 million of the aggregate purchase price payable in cash and about $1.5 million converted from a previous loan.
Key figures
- Deal Value Usd
- 41000000
- Cash portion
- approximately $39.5 million
- Completed closings
- 3
- Default interest rate
- 18% per annum
- Loan conversion portion
- approximately $1.5 million
- Authorized share reserve
- 125% of shares required for conversion
- Beneficial ownership cap
- 4.99% (increaseable to 9.99%)
- Initial conversion price
- $1.29
- Conversion amount premium
- 108% of principal, interest and late charges
- Remaining closings after amendment
- 2
- Company optional redemption premium
- 110%
- Change of control redemption premium
- 125%
Price after filing
Close on the filing date to close N calendar days later (from $3.20). Historical, not a forecast.
AI analysis
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