Form 8-K - Current report
October 06 2023 - 4:19PM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
October 2, 2023
Faraday Future Intelligent Electric Inc.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-39395 |
|
84-4720320 |
(State or other jurisdiction |
|
(Commission File Number) |
|
(I.R.S. Employer |
of incorporation) |
|
|
|
Identification No.) |
18455 S. Figueroa Street |
|
|
Gardena, CA |
|
90248 |
(Address of principal executive offices) |
|
(Zip Code) |
(424) 276-7616
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Class A common stock, par value $0.0001 per share |
|
FFIE |
|
The Nasdaq Stock Market LLC |
Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $11.50 per share |
|
FFIEW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.02. Unregistered
Sales of Equity Securities.
As previously disclosed by the Company in its Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”)
on May 10, 2023, the Company entered into that certain Securities Purchase Agreement, dated as of May 8, 2023, with the Company and purchasers
from time-to-time party thereto (the “Unsecured SPA”). Pursuant to the Unsecured SPA, the Company received conversion notices
from each of the holders listed in the table below (each, an “Unsecured SPA Holder”), evidencing each of the Unsecured SPA
Holder’s desire to convert the principal amount (the “Consideration”) of the Company’s convertible senior notes
issued to the Unsecured SPA Holder under the Unsecured SPA and for the Company to issue shares of Class A common stock pursuant to such
conversion notice.
The following table details the
common stock issued pursuant to the Unsecured SPA:
Date of Issuance | |
Number of Class A
common stock, par value
$0.0001 per share, issued | | |
Unsecured
SPA
Holder | |
Consideration | |
September 22, 2023 | |
| 562,091 | | |
V W Investment Holding Limited | |
$ | 1,422,222 | |
October 2, 2023 | |
| 846,704 | | |
FF Vitality Ventures LLC | |
$ | 1,000,000 | |
October 3, 2023 | |
| 635,028 | | |
FF Vitality Ventures LLC | |
$ | 750,000 | |
October 4, 2023 | |
| 1,032,614 | | |
FF Vitality Ventures LLC | |
$ | 1,000,000 | |
October 5, 2023 | |
| 675,191 | | |
V W Investment Holding Limited | |
$ | 596,250 | |
As further previously disclosed by
the Company in its Current Report on Form 8-K filed with the SEC on August 7, 2023, the Company entered into that certain Securities Purchase
Agreement, between the Company and Streeterville Capital, LLC (“Streeterville”), dated as of August 4, 2023 (the “Streeterville
Unsecured SPA”). Pursuant to the Streeterville Unsecured SPA, the Company received a conversion notice from the holder listed in
the table below (the “Streeterville Unsecured SPA Holder”), evidencing Streeterville Unsecured SPA Holder’s desire to
convert the Consideration of the Company’s convertible senior notes issued to Streeterville Unsecured SPA Holder under the Streeterville
Unsecured SPA and for the Company to issue shares of Class A common stock pursuant to such conversion notice.
The following table details the
common stock issued pursuant to the Streeterville Unsecured SPA:
Date of Issuance | |
Number of Class A common stock, par value $0.0001 per share, issued | | |
Streeterville
Unsecured SPA
Holder | |
Consideration | |
September 26, 2023 | |
| 869,210 | | |
Streeterville Capital, LLC | |
$ | 2,200,000 | |
As further previously disclosed by
the Company in its Current Report on Form 8-K filed with the SEC on August 15, 2022, the Company entered into that certain the Securities
Purchase Agreement, dated as of August 14, 2022, with and FF Simplicity Ventures LLC, an entity affiliated with ATW Partners LLC (“FF
Simplicity”), Senyun International Ltd. (“Senyun”) and RAAJJ Trading LLC (“RAAJJ”) and in its capacity as
administrative agent and collateral agent (the “Secured SPA”). Pursuant to the Secured SPA, the Company received conversion
notices from the holder listed in the table below (the “Secured SPA Holder”), evidencing the Secured SPA Holder’s desire
to convert the Consideration of the Company’s convertible senior secured notes issued to the Secured SPA Holder under the Secured
SPA and for the Company to issue shares of Class A common stock pursuant to such conversion notice.
The following table details the common stock issued pursuant to the
Secured SPA:
Date of Issuance | |
Number of Class A common stock, par value $0.0001 per share, issued | | |
Secured SPA Holder | |
Consideration | |
September 28, 2023 | |
| 26,211 | | |
RAAJJ Trading LLC | |
$ | 66,318 | |
The shares were issued upon conversion
of the principal amounts under the convertible notes to each of the Unsecured SPA Holders, Streeterville Unsecured SPA Holder and the
Secured SPA Holder, pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, provided by
Section 3(a)(9) thereof.
The issuance of these shares
totaled more than 5% of the Company’s outstanding common stock since the Company’s last Item 3.02 Current Report on Form 8-K,
which necessitated the filing of this Current Report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Current
Report on Form 8-K:
No. |
|
Description of Exhibits |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
FARADAY FUTURE INTELLIGENT ELECTRIC INC. |
|
|
Date: October 6, 2023 |
By: |
/s/ Jonathan Maroko |
|
Name: |
Jonathan Maroko |
|
Title: |
Interim Chief Financial Officer |
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Oct. 02, 2023 |
Document Type |
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Amendment Flag |
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Document Period End Date |
Oct. 02, 2023
|
Entity File Number |
001-39395
|
Entity Registrant Name |
Faraday Future Intelligent Electric Inc.
|
Entity Central Index Key |
0001805521
|
Entity Tax Identification Number |
84-4720320
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
18455 S. Figueroa Street
|
Entity Address, City or Town |
Gardena
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
90248
|
City Area Code |
424
|
Local Phone Number |
276-7616
|
Written Communications |
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Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
Class A common stock, par value $0.0001 per share |
|
Title of 12(b) Security |
Class A common stock, par value $0.0001 per share
|
Trading Symbol |
FFIE
|
Security Exchange Name |
NASDAQ
|
Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $11.50 per share |
|
Title of 12(b) Security |
Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $11.50 per share
|
Trading Symbol |
FFIEW
|
Security Exchange Name |
NASDAQ
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