Faraday Future Files 8-K for Material Agreement

TL;DR

FFIE filed an 8-K for a new material agreement, could be big.

AI Summary

Faraday Future Intelligent Electric Inc. filed an 8-K on August 5, 2024, reporting a material definitive agreement entered into on August 2, 2024. The filing also includes financial statements and exhibits related to this agreement. The company was formerly known as Property Solutions Acquisition Corp. and changed its name on March 4, 2020.

Why It Matters

This filing indicates a significant new agreement for Faraday Future, which could impact its operations, financing, or strategic direction.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the specifics of this agreement are not detailed in the provided header information.

Key Numbers

• 0.0001 — Par Value (Class Common Stock Par Value)
• 11.50 — Exercise Price (Redeemable Warrants Exercisable For Shares)

Key Players & Entities

• FARADAY FUTURE INTELLIGENT ELECTRIC INC. (company) — Registrant
• Property Solutions Acquisition Corp. (company) — Former Company Name
• 001-39395 (company) — SEC File Number
• 844720320 (company) — IRS Number
• August 2, 2024 (date) — Date of earliest event reported
• August 5, 2024 (date) — Filing Date

FAQ

Key Financial Figures

• $0.0001 — tered Class A common stock, par value $0.0001 per share FFIE The Nasdaq Stock Mar
• $11.50 — A common stock at an exercise price of $11.50 per share FFIEW The Nasdaq Stock Ma

Filing Documents

• ea0210463-8k_faraday.htm (8-K) — 34KB
• ea021046301ex10-1_faraday.htm (EX-10.1) — 72KB
• 0001213900-24-064910.txt ( ) — 342KB
• ffie-20240802.xsd (EX-101.SCH) — 4KB
• ffie-20240802_def.xml (EX-101.DEF) — 26KB
• ffie-20240802_lab.xml (EX-101.LAB) — 36KB
• ffie-20240802_pre.xml (EX-101.PRE) — 25KB
• ea0210463-8k_faraday_htm.xml (XML) — 6KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On August 2, 2024, Faraday Future Intelligent Electric Inc. (the " Company ") entered into that certain Waiver Agreement (the " Waiver Agreement ") with certain investors (each, a " Holder " and, collectively, the " Holders "), who (a) beneficially own and hold one or more of the following securities of the Company: (i) certain secured convertible notes of the Company (including any secured convertible notes issued in exchange therefor, collectively, the " Original Secured Notes ") that were issued pursuant to that certain Securities Purchase Agreement, dated as of August 14, 2022 (as amended, supplemented or otherwise modified from time to time, the " Secured SPA "), and (ii) certain unsecured convertible notes of the Company (including any unsecured convertible notes issued in exchange therefore, collectively, the " Original Unsecured Notes ", and together with the Original Secured Notes, the " Original Notes ") that were issued pursuant to that certain Securities Purchase Agreement, dated as of May 8, 2023 (as amended, supplemented or otherwise modified from time to time, the " Unsecured SPA ") and (b) have the right to acquire one or more of: (i) certain additional secured convertible notes issuable in accordance with the terms to the Secured SPA (the " Additional Secured Notes ") and (ii) certain additional unsecured convertible notes (the " Additional Unsecured Notes ", and together with the Additional Secured Notes, the " Additional Notes ", and together with the Original Notes, the " SPA Notes "), issuable pursuant to the Unsecured SPA. Prior to the Waiver Agreement, the Company had certain obligations under the SPA Notes to pay accrued and unpaid interest and a make-whole amount of additional interest (the "Make-Whole Amount") in cash in connection with conversions of such SPA Notes. In an effort to reduce the Company's ongoing cash obligations pursuant to such SPA Notes and to encourage the continued

01. Financial Statements and Exhibits

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 10.1 Form of Waiver Agreement, dated August 2, 2024, by and between the Company and the holders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 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: August 2, 2024 By: /s/ Jonathan Maroko Name: Jonathan Maroko Title: Interim Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR