Faraday Future Amends $10 Million Equity Investment Agreement to $12 Million, Eliminating Anti-Dilution Provision to Strengthen Stockholder Protections

LOS ANGELES--(BUSINESS WIRE)--Apr 15, 2026--

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future,” “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced “”that it has amended and restated the securities purchase agreement, initially entered into on February 4, 2026 (the ““Initial Agreement““ and such Initial Agreement as so amended and restated, the “A&R Agreement”) with Gold King Arthur Holding Limited (the “Purchaser”), a designated third-party investor identified by AIxCrypto Holdings Inc. (NASDAQ: AIXC) (“AIxC”), to (i) increase to the total purchase amount from $10 million to $12 million, $500,000 for common stock and $11.5 million for preferred stock; (ii) terminate the anti-dilution true-up provision and replace it with a fixed, milestone-linked warrant, and (iii) revise the per share purchase price to the average closing price of the 10 trading days prior to the signing date of the A&R Agreement (the “Signing Date”).

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The Company believes the Amendment is favorable to existing stockholders, by replacing dilution exposure with a fixed obligation tied to operational milestones and increasing the total purchase amount to support its EAI Strategy Execution.

Amendment to Securities Purchase Agreement

The Company and the Purchaser agreed to amend and restate in the Initial Agreement to, among other things,

The company believes the amendment improves compatibility with future financing transactions, and reflects the investor’s commitment to long-term value creation aligned with the Company’s operational milestones rather than short-term price compensation.

Transaction Benefits and Use of Proceeds

The Company has received $12 million in gross proceeds, before offering expenses, pursuant to the A&R Agreement, which AIxC has pre-funded to the Company on behalf of such investor in advance of closing of the transaction. This is an equity financing, with low transaction fees— resulting in a cost-efficient capital structure. Proceeds support the Company’s robotics and FX Super One businesses, including the commencement of initial EAI robotics deliveries and the continued advancement of the FX Super One strategy as the Company progresses toward its start-of-delivery targets.

FF believes this transaction demonstrates the potential of the complementary relationship between its core EAI business and the digital asset ecosystem and may provide a framework for future cooperation.

Management Commentary

“This A&R Agreement eliminates a source of uncertainty in our capital structure and demonstrates our commitment to protecting stockholder interests. By replacing the anti-dilution provision with a fixed, milestone-linked warrant at a premium exercise price, we are aligning this investment with our execution roadmap. With the $12 million in proceeds, which the accredited investor pre-funded by AIxC on behalf of such investor in advance of closing, now actively supporting EAI robotics deliveries and FX Super One advancement — and with no convertible debt — we believe this transaction reflects a disciplined approach to capital formation,” stated Jerry Wang, Global President of Faraday Future.

The shares of Class A common stock underlying the Warrant and the convertible preferred stock, if and when issued upon exercise or conversion, as applicable, will initially be unregistered and subject to customary transfer restrictions under federal and state securities laws. For additional information regarding the material terms of the A&R Agreement and the Warrant, and the material right and obligations of the convertible preferred stock, please see the Company’s Current Report on Form 8-K to be filed with the Securities and Exchange Commission on or around the date hereof.

About Faraday Future

Faraday Future is a California-based global intelligent Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand’s pursuit of ultra-luxury, cutting-edge technology, and high performance. FF’s second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Company’s deployment of investment proceeds, EAI robotics production and delivery plans, FX Super One delivery plans, the exercisability and terms of the Warrant, the anticipated benefits of the A&R Agreement to the Company’s capital structure and stockholders, and AIxC’s digital asset tokenization plans, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include: the Company’s ability to commence and ramp production and delivery of the FX Super One on the anticipated timeline; the Company’s ability to achieve the 500-vehicle delivery milestone that triggers the exercisability of the Warrant; demand for the Company’s robotics products; competition in the robotics industry; the Company’s reliance on a single OEM for robotics products; tariff uncertainty for imported products; AIxC’s ability to execute on its digital asset tokenization plans, which is not within the Company’s control; the Company’s ability to maintain its listing on Nasdaq; the need for additional share capital to fully execute on its strategy; the Company’s ability to secure the necessary funding to execute on the FX strategy; the Company’s ability to continue as a going concern; general market and economic conditions; and the other factors described in the Company’s most recent Annual Report on Form 10-K and subsequent periodic filings with the SEC. Any forward-looking statements speak only as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Faraday Future Amends $10 Million Equity Investment Agreement to $12 Million, Eliminating Anti-Dilution Provision to Strengthen Stockholder Protections

JUNEAU, Alaska (AP) — Alaska U.S. Senate candidate Dan Sullivan acknowledges that sharing a name and party affiliation with the incumbent Republican gives him “an instant megaphone" in the crowded primary race. But Sullivan said his campaign isn't a sham or something Democrats put him up to doing.

He said friends for years have jokingly referred to him as senator and asked if he has ever thought about running. He said he’s been considering it for more than a decade.

“This is my choice,” Sullivan, who lives in the small fishing community of Petersburg, said in a telephone interview Monday.

Last week, Sen. Dan Sullivan accused the challenger Sullivan of “trying to trick” voters to help his main rival in the race, Democratic former U.S. Rep. Mary Peltola. The senator suggested the other Sullivan's entrance in the August primary was part of a coordinated effort by Democrats and Peltola's campaign to confuse voters, an accusation they deny. He threatened litigation to get to the bottom of it.

The issue is of national concern to Republicans because they are seeking to hold onto their majority in the U.S. Senate in what is expected to be a difficult midterm election year for the party in power. Sullivan, the challenger, dismissed claims that his candidacy is a merely a ruse to undermine the senator's reelection chances.

He said he has had no contact with Peltola's campaign — “zero, none, zilch” — and said “no” when asked if anyone from the state Democratic Party or any national Democratic operatives had contacted him to run.

A Peltola spokesperson, Harry Child, has said the campaign “has no involvement with either Sullivan campaign.” The executive director of the Alaska Democratic Party, Jenny-Marie Stryker, said her organization “is in no way affiliated with either Dan Sullivan.” A Democratic Senatorial Campaign Committee spokesperson, Monica Robinson, replied “no” when asked if the group had been involved in urging the challenger Sullivan to run.

Sullivan called sharing a name with the Alaska's incumbent U.S. senator “a matter of fate” and said he had done nothing wrong.

“I have every right to run for whatever office I'm qualified for, and I’m qualified for this office,” the challenger said, adding: “I think I’m doing what most Americans would think would be a patriotic thing to do when you’re unsatisfied with the status quo. You stand up and say, I’m going to fight for things I believe that are going to make my community better.”

Ballots in prior years in Alaska have not identified the incumbent, but the Alaska Division of Elections’ current candidate list online does. It also distinguishes the candidates using a middle initial — Dan S. Sullivan for the senator and Dan J. Sullivan for the challenger.

Alaska has open primaries in which the top four vote-getters, regardless of party, advance to the ranked choice general election in November. Sen. Sullivan's campaign worries having two Dan Sullivans on the ballot could confuse voters.

Sen. Sullivan's campaign, in a statement Monday, said, “Alaskans deserve a fair and honest election — not political games meant to manipulate the ballot and benefit Democrats.”

The challenger said he was registered with the limited government-leaning Alaskan Independence Party for decades, until the party's dissolution late last year. Election officials had said voters registered with the party could change their affiliation but if they did not, they'd be shown as “undeclared.” Sullivan said he then was listed as undeclared until filing to run for office, when he registered as Republican.

He said he was motivated in part by his late father, whom he described as a “true, compassionate, conservative Republican.” He said if he had to label himself, it would be “a pragmatic Republican centrist” — similar to Alaska's senior U.S. senator, Lisa Murkowski, but “with touches of a Rand Paul Republican in there.”

He said he grew up in the Chicago area but was drawn to Alaska and put down roots nearly 50 years ago in Petersburg. The fishing community of about 3,400 in southeast Alaska's Tongass National Forest is known as “Little Norway” for its many residents with Scandinavian roots. He worked for the U.S. Forest Service before changing careers and becoming a teacher. He has since retired.

Like most communities in Alaska, Petersburg isn't connected to the state's main road system and is accessible only by air or water. Juneau, the nearest city, is about 45 minutes away by plane.

Petersburg sits on Mitkof Island, which is distinguished by mountains, thick stands of forest and boggy areas called muskeg. Sea lions hauled up on buoys and humpback whales and orcas are common sights off its shores.

Sullivan, who will turn 69 this weekend, passed on an interview request last Friday, he said, because the king salmon were running and he wanted to fish.

As far as his run for office, the challenger said he plans to do some fundraising and hopes to campaign in the state's larger cities, including Anchorage and Juneau, but he so far has no firm plans to do so and is working on the details.

He finds the current dustup over his Senate run — and the incumbent's reaction — a bit surprising.

“I guess my thought would be, ‘Dude, why don’t you just run your campaign?’ If you’ve got a strong record, run on your record. People will love you for it and you’ll be swept back into office,” he said Monday. “Why would he be concerned that a guy out of Petersburg is this huge threat?”

Sen. Dan Sullivan, R-Alaska, heads to a closed-door meeting with fellow Republicans, at the Capitol in Washington, Tuesday, June 2, 2026. (AP Photo/J. Scott Applewhite)