Faraday Future got out again: a new agreement with the investor was drawn upJanuary 2, 2019
Despite the fact that in 2018 a flag of possible bankruptcy developed over a startup of electric cars, the company with a scandal and risk achieved a new agreement with the investor and will continue to work in 2018.
In 2018, Faraday Future was repeatedly accused of all sins, including investor deception, misuse of funds, blackmail of suppliers, theft of the ruling elite, and so on. At the end of the year, the startup was threatened with inevitable death, but she was able to get out.
In a statement posted on Twitter, Faraday Future reports that the company was able to reach an agreement with Chinese investor Evergrande Health. This is the same company that Faraday Future accused of delaying investments and trying to gain control over intellectual property.
According to preliminary information, the new agreement “will terminate the previous investment contract, cancel all court and arbitration proceedings and release all securities, including a pledge of asset preservation and equity financing rights”.
In essence, the agreement ends legal disputes and allows Faraday Future to seek new funding. This is very important, as the company has been engaged in survival for several months.
Speaking of financing, the company stated that “investors from around the world have shown interest in FF,” and some have already begun negotiations with the company.
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