- Faraday Future Intelligent Electric Inc FFIE has signed a non-binding term sheet agreement with a major shareholder, FF Top Holding LLC, for a proposed convertible term loan facility.
- The principal amount of the proposed financing amounts to $600 million.
- The term sheet contemplates that several financial investors, to be identified by FF Top, would participate in the proposed financing through a new or existing investment vehicle in a principal amount of at least $100 million.
- The facility will include two tranches, each up to $300 million.
- Price Action: FFIE shares are trading higher by 27.45% at $2.54 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
