Briefing: Faraday Future signs contract with investment banking firm Stifel as it explores financing options

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法拉第未来签约投行斯提夫尔,加速融资进程 – 动点科技

 What happened: Faraday Future (FF) has signed a contract with US investment banking firm Stifel, Nicolaus & Co as it explores strategic options, including debt and equity financing. Stifel will serve as FF’s financial adviser and assist FF with future financing efforts. Earlier this week, the EV maker’s co-founder Nick Sampson resigned and said in his resignation letter that “the company [FF] is effectively insolvent in both its financial and personnel assets”.

Why it’s important: The struggling EV maker was able to obtain an emergency relief from the Hong Kong International Arbitration Centre to seek funding through other sources other than its main investor Evergrande Health. Embroiled in legal and financial troubles, FF was forced to significantly reduce employee salaries and downsize. The company is now desperately seeking funding from investors in order to push ahead with the production of its electric SUV FF91.