Faraday Future Sets $5 Conversion Price Floor for Convertible Notes

Faraday Future Intelligent Electric Inc. announced key initiatives for its Capital Value Restoration Plan, aiming to restore market capitalization to its 2021 Nasdaq listing level within two years. The plan includes establishing a $5.00 per share conversion price floor for existing convertible notes, implementing weekly disclosures on conversion activity for enhanced transparency, and exploring equity financing and standalone funding for its robotics business to reduce dilution. The company also plans to accelerate liability optimization, targeting a reduction from $230 million to under $100 million within four quarters.