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Faraday Future Intelligent Electric Inks $600M Financing Agreement With FF Top

Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) has signed a non-binding term sheet agreement with a major shareholder, FF Top Holding LLC, for…
byShivani Kumaresan
August 2, 2022
1 minute read
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  • Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) has signed a non-binding term sheet agreement with a major shareholder, FF Top Holding LLC, for a proposed convertible term loan facility.
  • The principal amount of the proposed financing amounts to $600 million.
  • The term sheet contemplates that several financial investors, to be identified by FF Top, would participate in the proposed financing through a new or existing investment vehicle in a principal amount of at least $100 million.
  • The facility will include two tranches, each up to $300 million. 
  • Price Action: FFIE shares are trading higher by 27.45% at $2.54 on the last check Tuesday.
 
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Cannabis Co. Vext Announces Debt Conversion, Opens Door To 27 Million Shares For Investors

By Jelena Martinovic
December 28, 11:57 AM
Vext Science has reached agreements with the holders of the company's existing secured non-convertible debentures to convert the outstanding principal amount of $4.6m, plus interest and a conversion incentive fee, into 27,700,625 common shares of the company. The conversion is subject to regulatory approval and is expected to be completed in due course. Upon completion, all existing security held by the debenture holders will be released and discharged. Sopica Special Opportunities Fund Limited, an insider shareholder of Vext Science, is a debenture holder and is expected to acquire common shares as part of the conversion transaction.

CSE:VEXT