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Faraday Future Completes Bridge Financing to Push Forward Production of Its All-electric FF 91 Luxury Vehicle

  • Amended Bridge Financing Includes up to $45 Million in New Senior Secured Financing

  • Birch Lake Fund Management LP, Which Led Senior Bridge Financing Facility in 2019, Returns to Support Faraday Future

 

Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced that it has completed the expansion and extension of the senior bridge financing facility put in place in 2019 to support the completion and launch of its flagship FF 91 EV and continue development of the mass-market FF 81. The amended bridge facility includes new senior secured financing of up to $45 million, which matures in October 2021.

As part of the expanded and extended financing agreement, Birch Lake, a Chicago-based merchant bank, has returned to support FF as the majority purchaser of the new senior secured financing. The principals of Birch Lake and co-investor, ATW Partners, a New York-based private equity firm, bring extensive experience

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How Technology Is Helping Luxury Fashion Brands Gain Traction

Overall, the advent of technology marked a new dawn for the entire world. Clearly, the reality of life has never been the same since advancements in technology have become part of our everyday lives. Nevertheless, and on a positive note, it continues to change and evolve for the betterment of mankind. In a sense, technology has developed life into a fine balance of convenience and production. The result being that we now have the ability to complete da-to-day tasks more rapidly and with much less effort.

Luxury fashion houses such as Chanel and Balmain are particularly attuned to this moment, as the progression of technology promises to imbue

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