FF EAI Robotics Signs Definitive $200 Million Faraday Future Deal
FF EAI Robotics Ecosystem signed definitive agreements to acquire the robotics business of Faraday Future, advancing a nonbinding term sheet disclosed in September, the company said in a press release. The all stock transaction values the robotics business at about $200 million and FFR at about $60 million on a fully diluted basis.
FFR will issue shares to Faraday Future at $2.246 per share, about a 50% premium to its closing price on the October 12 signing date, and the new shares carry an 18 month lockup. After the acquisition and a planned private financing close, Faraday Future will own about 65.7% of FFR on an as converted, fully diluted basis. Management and employees will hold about 18.2%, financing investors about 5.5%, and other shareholders about 10.7%.
FFR secured up to $10 million in private financing without warrants or a discount. The acquisition and financing remain subject to their closing conditions, and FFR expects to complete both by the end of October 2026.
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