Ff top holding llc and faraday future intelligent electric inc. (nasdaq: ffie) executed a term sheet for up to $600 million investment

Los angeles , aug. 2, 2022 /prnewswire/ -- ff top holding llc ("ff top"), a major shareholder of faraday future intelligent electric inc.("ff", ffie") (nasdaq: ffie), and ffie executed a non-binding term sheet (the "term sheet") for a proposed convertible term loan facility of ffie on august 1 , consisting of potential senior secured convertible notes ("notes") in a potential principal amount of up to $600,000,000 (the "proposed financing"). the term sheet contemplates that several financial investors, to be identified by ff top but that are not affiliates of ff top (the "potential lead investor") would participate in the proposed financing through a new or existing investment vehicle in a principal amount of at least $100 million, and that additional potential investors, to be identified by the potential lead investor, ff top and ffie (the "potential other investors" and collectively with the potential lead investor, the "potential investors" or the "potential lenders"), would further participate in the proposed financing for additional principal amounts to be determined.
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