Shulou(Shulou.com)11/24 Report--

CTOnews.com February 10, Faraday Future (Faraday Future) announced today that a pre-recorded FFIE Global Investor Communication and EGM Voting Network meeting will be held on Monday, February 13 at 1:30 (4:30 EDT and 5:30 Tuesday, February 14, Beijing time). At the meeting, speakers, including several FF executives, will share details of the company's business plan.

According to reports, Faraday will also broadcast the pre-recorded content of the meeting for investors in Asia at 9:00 on Tuesday, February 14, Beijing time, with the same content on both occasions. Faraday said in the future that shareholders were advised to vote in favor of two proposals at the special general meeting on February 28, 2023.

At the same time, Faraday Future announced that as of February 9, 2023, the company received the first down payment of $50 million (currently approximately RMB 339 million) of the latest round of financing commitments of $135 million ($44.5 million after deducting the original discount and transaction costs). It is about 302 million yuan at present.

In addition, Faraday also set a date for the special shareholders' meeting in the future. The special shareholders' meeting will be held at 9:00 Western time on February 28, 2023 (1:00 on March 1, Beijing time, 2023). CTOnews.com understands that shareholders holding FFIE shares at the close of trading on January 31, 2023 have the right to participate in and vote at this extraordinary general meeting. Faraday said in the future that voting shareholders are advised to vote in favor of the proposal to "increase the number of authorized shares".

Faraday pointed out in the future that the company recently announced the implementation of a final agreement on the financing of $135 million (currently about 915 million yuan) convertible secured notes. As of February 9, 2023, the company had received $50 million of that amount. This means that the company has received a full down payment of $50 million and is expected to receive the next payment of $5 million soon ($4.5 million after deducting the original discount). If certain conditions are met, the company expects to receive the remaining $25 million (currently approximately RMB 170 million, or $22.5 million after deducting original discounts and transaction costs) by February 17, 2023. The remaining funds will be received within 5 working days after meeting or waiving the relevant conditions, including the company's shareholders' approval to increase the number of authorized shares at the special general meeting on February 28, 2023, and a valid registration statement of the relevant shares of the applicable instruments and warrants. Once the financing is completed on schedule, the company expects to meet the funding requirements for the start of production ("SOP") of FF 91 Futurist.

Related readings:

"Faraday announced $135 million in financing in the future to raise all the necessary funds for FF 91 Futurist to start mass production."

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