FF EAI robots

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   Jia Yueting says FFR to merge FFAI robotics business, eyes standalone US listing

   Jia Yueting said in an October 14 video that FFR and FFAI have signed a definitive agreement for FFR to absorb FFAI's robotics assets and business in an all-stock deal at $2.246 per share, roughly a 55% premium to the prior day and an implied valuation of about $200 million; FFR's pre-closing fully diluted equity value is put at about $60 million, and the parties expect to close by the end of this month. The transaction was approved by a special committee of disinterested independent directors and supported by a fairness opinion from its independent financial adviser; FFR also signed a first PIPE round of up to $10 million, described as at market price with no discount and no warrants. The company says FFR will carry almost no debt after closing, aims to stay in the top three of the EAI robotics industry within five years, targets positive operating cash flow by Q3 2028, and expects to need no more than $150 million in cumulative funding before then; it claims 817 units of EAI robot bodies sold and shipped with positive gross margin as of the end of September.

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