Monday, August 15, 2022

Faraday Future Finds $52M In Convertible Note

Los Angeles-based electric vehicle developer Faraday Future announced this morning that it has raised $52M in a new financing facility, which it claims will give up a total potential funding of as much as $600M. According to the company, the convertible note funding was led by funds managed by ATW Partners. Faraday Future said the placement agent on the offering was Citi, with legal advice from Sidley Austin LLP; the advisors to ATW Partners were Blank Rome LLP and Ellenoff Grossman & Schole LLP.