Faraday Future Intelligent Electric Inc. Amends $10M Convertible Note

What Happened

• Faraday Future Intelligent Electric Inc. filed an 8-K reporting that on September 15, 2026 it entered into amendments to a senior convertible note (original principal $10 million) issued under a May 15, 2026 securities purchase agreement. The Company, the institutional investor (the “Investor”) and East West Bank amended the related Deposit Account Control Agreement that secures the note. A press release about the amendments was issued on September 18, 2026.

Key Details

• Amendment date: September 15, 2026; original securities purchase agreement dated May 15, 2026.
• Note principal: $10,000,000 (senior convertible note issued to the Investor).
• Changes: the amendments (i) permit prepayment of any portion of outstanding principal and accrued interest and (ii) establish a flexible repayment schedule under the Investor Note.
• Documents: Amendment No. 1 to the Convertible Note (Exhibit 10.1), Amendment No. 1 to the Deposit Account Control Agreement (Exhibit 10.2) and a press release (Exhibit 99.1) were filed with the 8‑K; certain portions are redacted pursuant to Regulation S‑K Item 601(b)(10).

Why It Matters

• The amendments alter the company’s repayment terms on a $10M senior convertible note and the security arrangement with East West Bank, which affects how and when Faraday Future may be required to pay or prepay that debt. Investors should review the filed exhibits for the precise repayment mechanics and any redacted terms to assess potential impacts on the company’s cash flow and capital structure.