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Faraday Future said it entered a non-binding term sheet with AIxC, soon to be FFR, for a proposed all-stock acquisition of its robotics assets and businesses at an estimated $200 million valuation. The companies also outlined a potential special stock dividend of $2.246, subject to closing and other conditions.
Faraday Future: AIxC Proposes to Acquire and Consolidate FFAI's Robotics Assets and Businesses at a Market-Based Valuation of Approximately $200M >FFAI
AIxC (FFR) proposes to acquire FFAI's robotics business, targeting to become the first Nasdaq-listed pure-play robotics ecosystem company and transforming into a platform-based EAI robotics ecosystem company centered on "Four-Core Full-Stack AI." Now both the Board of FFAI and AIxC have approved the Term Sheet. AIxCryp
The company said its board and AIxC have approved a non-binding term sheet for a proposed combination of its robotics assets and business with AIxC, which is expected to be renamed FFR. Faraday Future said it expects to become FFR’s single largest controlling stockholder if the deal closes.