FF secures new financing of $25 million

On May 16, Faraday Future (FF for short) announced that the company has signed a $25 million share purchase agreement with institutional investors. It is expected that the proceeds from this financing will further accelerate the implementation of FF's EAI strategy. According to the latest agreement, the investors have subscribed for convertible promissory notes of FF with a total principal amount of $25 million. The common shares corresponding to this financing are not currently registered, and there are trading restrictions, so they cannot be immediately circulated. (People's Financial News)