Univest Securities, LLC Announces First Closing of $30 Million Convertible Note Offering for its Client Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE)

Core Points - Univest Securities, LLC announced the first closing of a convertible note offering for Faraday Future Intelligent Electric Inc. totaling approximately $30 million [1][2] - The offering consists of a previously funded $7.50 million and $22.50 million of new investment in the form of convertible notes and warrants [2] - The conversion price for the convertible notes is set at $5.24 per share, while the exercise price for the warrants is $6.29 per share [2] Company Overview - Faraday Future is positioned as a pioneer in the intelligent electric vehicle market, aiming to disrupt traditional ultra-luxury car manufacturers [6] - The company focuses on creating a shared intelligent mobility ecosystem, integrating advanced electric vehicle technology with software-driven solutions [6] - Faraday Future's mission is to evolve into a User Company, catering to the changing needs and preferences of users globally [6]