Palantir-Backed Faraday Future Secures $90M To Accelerate FF 91 Production
Portfolio Pulse from Anan Ashraf
Faraday Future Intelligent Electric (FFIE) has secured a $90 million funding commitment led by ATW Partner Funds, with participation from Senyun International. The funding will support the production and delivery of Faraday’s luxury electric SUV, the FF 91. The company is also considering a reverse stock split to increase the market price of its class A common stock and reduce the risk of delisting from the Nasdaq Capital Market.
June 28, 2023 | 7:20 am
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POSITIVE IMPACT
The $90 million funding commitment will support the production and delivery of Faraday’s FF 91, potentially boosting the company's revenues and stock price.
The funding commitment will help Faraday Future overcome its production delays and funding challenges, which could lead to increased revenues and a higher stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Palantir Technologies (PLTR), a backer of Faraday Future, could see indirect benefits from the funding commitment secured by Faraday Future.
As a backer of Faraday Future, Palantir Technologies could benefit indirectly from the funding commitment, as it could lead to increased revenues and profitability for Faraday Future, potentially boosting Palantir's investment.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50