Faraday Future Secures Financing, Strikes Deal With Shareholder
Shares of Faraday Future rose sharply Monday.
Photo:
Jae C. Hong/Associated Press
Electric-car startup
Faraday Future Intelligent Electric Inc.
FFIE 39.86%
has secured up to $100 million in new financing to fund operations after reaching a deal with one of its largest shareholders to resolve a governance dispute.
The agreement comes after Faraday Future said last week that its company leaders were facing death threats and a misinformation campaign as they sought to raise money for the production of its first vehicle.
Shares of Faraday Future jumped about 43% to $1.10 in morning trading. Through Friday, the stock was down more than 93% in 2022.
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Shares of Faraday Future rose sharply Monday.
Photo:
Jae C. Hong/Associated Press
Electric-car startup
Faraday Future Intelligent Electric Inc.
FFIE 39.86%
has secured up to $100 million in new financing to fund operations after reaching a deal with one of its largest shareholders to resolve a governance dispute.
The agreement comes after Faraday Future said last week that its company leaders were facing death threats and a misinformation campaign as they sought to raise money for the production of its first vehicle.
Shares of Faraday Future jumped about 43% to $1.10 in morning trading. Through Friday, the stock was down more than 93% in 2022.
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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