Gasgoo Munich- Faraday Future (NASDAQ: FFAI) announced on September 18 that it has signed an amendment to its May 2026 financing agreement with relevant parties. The revision adjusts terms for convertible notes issued to an existing investor and modifies a related deposit account control agreement. The move aims to reduce note debt, curb potential share dilution, and optimize the capital structure.
Image credit: Faraday Future
Under the amendment, Faraday Future will return $5 million in restricted cash previously held in a controlled account. After the repayment, the outstanding balance on the notes—including applicable premiums and full interest—will drop from roughly $10.88 million to about $5.88 million. The remaining notes will convert to non-convertible debt, which the company plans to repay in cash within six months. Based on a minimum conversion price of $5 per share, the revision trims potential dilution by approximately 25.16%.
Jerry Wang, Executive Chairman of Faraday Future, said the amendment helps lower potential dilution, optimize the capital structure, and protect shareholder value. The company remains committed to its roadmap, he added, pledging transparent disclosures and continued proactive support for its embodied AI robotics strategy.
Faraday Future filed a Form 8-K with the U.S. Securities and Exchange Commission the same day, providing further details. Headquartered in California, Faraday Future is an embodied AI ecosystem company currently focused on two product strategies: embodied AI humanoid and bionic robots, as well as automotive robots.
