Faraday Future Intelligent Electric Inc. (FF) announced on September 18, 2026, that it has entered into amendments to an existing senior convertible note with an institutional investor. The amendments, filed as part of a Form 8-K on September 15, 2026, and detailed in a subsequent press release on September 18, 2026, modify the terms of a $10 million note issued in May 2026.
Under the terms of the amendment, the company will return $5.0 million of restricted cash currently held in a Deposit Account Control Agreement. This repayment will reduce the outstanding balance of the note, including applicable premiums and make-whole interest, from approximately $10.88 million to approximately $5.88 million. The remaining $5.88 million will be fully repaid in cash within six months.
The company stated that this restructuring is intended to reduce potential equity dilution by approximately 25.16%, calculated at a conversion floor price of $5.00 per share. The amendments also permit the prepayment of portions of the outstanding principal value and establish a flexible repayment schedule. The company emphasized that these actions represent a step toward optimizing its capital structure and supporting its robotics strategy.
