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Faraday Future has signed an important deal to sell its robotics business for $200 million.

DealRead the original at SEC EDGAR
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FFAI would receive FFR shares for its robotics business, but would give up the unit and its related assets, contracts, workers, and obligations. The filing does not compare the shares’ value with the business being sold, so it does not clearly change FFAI’s prospects.

FFAI · Faraday Future Intelligent Electric Inc.

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The payment is shares, not cash, and its stated amount may be adjusted based on outstanding options. FFAI would give up the robotics unit and its related assets, contracts, workers, and obligations. Some share rights also require shareholder approval. The filing does not compare the shares’ value with the business being sold, so it does not clearly favor either side.

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