Faraday Future Amends Securities Purchase, Increases Investment to $12M

Faraday Future Intelligent Electric Inc. amended and restated its securities purchase agreement with Gold King Arthur Holding Limited, increasing the total investment from $10 million to $12 million. The revised agreement allocates $500,000 for the purchase of common stock and $11.5 million for a to-be-designated series of preferred stock. Additionally, the per share purchase price was revised, and a true-up provision was removed in exchange for the issuance of a common stock purchase warrant to the purchaser.