Electric vehicle startup Faraday Future said it has signed a deal to raise up to $350 million to launch the FF 91 Futurist EV.
Faraday Future said financing from affiliate Yorkville Advisors Global with an initial commitment of $200 million provided financial flexibility to help start production and delivery of the FF 91 to customers.
In September, Faraday Future settled a governance dispute and raised $100 million after saying a “misinformation campaign” and threats against some board members had impacted fundraising efforts.
Shareholders last week approved the reverse stock split proposal after the company received a notification from the Nasdaq Stock Market for failing to maintain its minimum bid price of $1 per share for 30 consecutive sessions.
