Form 8-K - Current report
19 October 2023 - 8:16AM
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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 12, 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 $920.00 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 Faraday
Future Intelligent Electric Inc. (the “Company”) in its Current Report on Form 8-K filed with the Securities and Exchange
Commission (the “SEC”) (i) on May 10, 2023, the Company entered into a Securities Purchase Agreement, dated as of May 8, 2023,
with purchasers from time-to-time party thereto (the “Unsecured SPA”) and (ii) on August 15, 2022, the Company entered into
a Securities Purchase Agreement, dated as of August 14, 2022, with FF Simplicity Ventures LLC (“FF Simplicity”), an entity
affiliated with ATW Partners LLC and in its capacity as administrative agent and collateral agent (the “Secured SPA”, and
together with the Unsecured SPA, the “Securities Purchase Agreements”). Pursuant to the Unsecured SPA, on October 10, 2023,
Metaverse Horizon Limited (the “MHL”), subscribed and purchased from the Company 4,621 shares of Class A common stock for
an aggregate purchase price of $1,000,000 (the “Funding”) and waived any and all requirements of the Company to maintain the
VWAP (as defined in the Unsecured Convertible Senior Promissory Note, dated as of May 9, 2023 (the “Unsecured SPA Notes”))
for its Class A common stock of at least $8.00 for the five (5) trading days prior to the Funding pursuant to the introductory paragraph
of the Unsecured SPA Notes. Such issuance is for existing commitments under the existing Unsecured SPA and does not increase additional
commitments of the Unsecured SPA Notes.
Pursuant to the Securities Purchase
Agreements, the Company received conversion notices from the holders listed in the table below (the “Holders”), evidencing
each Holder’s desire to convert the principal amount (the “Consideration”) of the Unsecured SPA Note or the Company’s
convertible senior secured notes issued under the Secured SPA (the “Secured SPA Notes”, and together with the Unsecured SPA
Notes, the “Notes”), as applicable, issued to such Holder under the Unsecured SPA or Secured SPA, as applicable, into shares
of Class A common stock to be issued by the Company pursuant to such conversion notice. Such issuance is for existing commitments under
the existing Securities Purchase Agreements and does not increase additional commitment of such convertible notes.
The following table details the
Class A common stock issued pursuant to the Securities Purchase Agreements as a result of converting existing and funded Notes:
Date of Issuance | |
Number of Class A
common stock, par
value $0.0001 per share,
issued | | |
Holder | |
Consideration | |
October 12, 2023 | |
| 622,818 | | |
FF Vitality Ventures LLC | |
$ | 550,000 | |
October 12, 2023 | |
| 941,804 | | |
FF Vitality Ventures LLC | |
$ | 826,339 | |
October 13, 2023 | |
| 675,191 | | |
V W Investment Holding Limited | |
$ | 596,250 | |
October 17, 2023 | |
| 1,424,664 | | |
FF Prosperity Ventures LLC | |
$ | 1,250,000 | |
October 17, 2023 | |
| 296,947 | | |
Senyun International Ltd. | |
$ | 250,000 | |
The shares were issued upon conversion
of the principal amounts under the convertible notes to each of the Holders, 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
totals 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 18, 2023 |
By: |
/s/ Jonathan Maroko |
|
Name: |
Jonathan Maroko |
|
Title: |
Interim Chief Financial Officer |
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Oct. 12, 2023 |
Document Type |
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Amendment Flag |
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Document Period End Date |
Oct. 12, 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 $920.00 per share |
|
Title of 12(b) Security |
Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $920.00 per share
|
Trading Symbol |
FFIEW
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Security Exchange Name |
NASDAQ
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