Faraday Future Announced a Total Strategic Investment of $41 million in Qualigen Therapeutics, Inc. (NASDAQ: QLGN) During its Annual 919 Event, for its Crypto Business Focusing on Three Growth Engines

Core Viewpoint - Faraday Future Intelligent Electric Inc. is strategically investing approximately $30 million in Qualigen Therapeutics, Inc. to initiate a crypto and web3-related business, aiming to enhance its dual-flywheel and dual-bridge eco strategy to maximize shareholder value [1][2][8] Investment Details - The total investment in Qualigen Therapeutics will be around $41 million, with Faraday Future contributing about $30 million for approximately 55% of QLGN's common stock on a pro forma basis [2][3] - YT Jia, Founder & Global Co-CEO, will invest $4 million and receive about 7% of QLGN's common stock, with a two-year lockup on his shares [3][4] Management and Governance - Faraday Future plans to assign management teams to oversee relevant business activities, with YT Jia serving as chief advisor to QLGN and Jerry Wang expected to be appointed as Co-CEO [4] - Following the investment, Faraday Future will have the right to nominate two of five directors on QLGN's board, which could increase to four of seven if stockholder approval is obtained [4] Rebranding and Product Focus - Qualigen Therapeutics is expected to rebrand as CXC10, focusing on three growth engines in the crypto ecosystem, including the C10 Treasury, BesTrade DeAI Agent, and ecosystem tokens [5][6][7] - The C10 Treasury has shown an unrealized gain of around 7%, outperforming the C10 index, with a 20% actively managed allocation yielding positive results [9] Product Innovations - The FX Super One MPV was showcased at the annual 919 event, featuring an ultra-wide dual-screen panoramic display and advanced EAI OS for enhanced user interaction [10][12][13] - The EAI Space in the FX Super One is designed to provide a personalized and immersive experience, integrating hardware, software, and applications for seamless user engagement [15][16][17] Future Outlook - Faraday Future aims to bridge Web2 and Web3, as well as AI and crypto, positioning itself as a leading U.S. public company in the evolving digital landscape [6][9]