Bill Simmons rips Jerod Mayo for coaching ‘scared football’ with PatriotsLOS ANGELES--(BUSINESS WIRE)--Dec 22, 2024-- Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”, “Faraday Future”, or “Company”), a California-based technology company specializing in artificial intelligence electric vehicles (AIEV), announced that it has secured approximately $30 million in cash financing commitments. The funds will be used to accelerate the Company’s growth and the development of Faraday X (FX), FF’s strategy of launching affordable high performance AIEV equipped vehicles with cutting edge technology, filling the U.S. market gap in this segment, and for general corporate purposes. Targeting the mainstream EV market in the U.S., FF is expected to have its first two FX prototype mules arrive in Los Angeles later this month, with product development and testing scheduled to begin at FF’s manufacturing facility in Hanford, CA. As part of their delivery journey, the two prototype mules will stop in Las Vegas from January 5 to 7, 2025, where the Company will provide updates on its FX strategy. The $30 million financing commitment includes a pre-funded $7.5 million, which was received in the fourth quarter of this year, and $22.5 million in new cash commitments (the “Financing”), structured in the form of unsecured convertible notes (“Convertible Notes”) and warrants to acquire additional shares of the Company’s common stock (“Warrants”). The conversion price for the Convertible Notes and exercise price for the Warrants are $1.16 and $1.392 per share, respectively, subject to adjustment as set forth therein. The shares of common stock underlying the Convertible Notes and Warrants issued in the Financing are currently unregistered, subject to trading restrictions, and not immediately tradable. The Financing is subject to customary closing conditions. For additional information regarding the material terms relating to the Financing, please see the Company’s Form 8-K to be filed with the SEC on December 23, 2024. “The new funding lays a solid foundation for both FF and its new brand as the Company approaches the end of 2024 and enters the new year,” said Matthias Aydt, Global CEO of FF “I am optimistic about the opportunities that this new funding will bring, including supporting the ongoing production of our FF 91 2.0 and the growth of the FX brand,” Aydt explained. “We are pleased to have supported FF in successfully completing this round of financing,” said Jerry Wang, President of FF Global Partners and Head of Corporate Development, FFIE (Consultant), “We are enthusiastic about the promising opportunities ahead for the FX brand, and we firmly believe in FF's ability to execute its strategy effectively and deliver significant value in the process.” The Convertible Notes, along with the Warrants, were offered and sold in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws. Accordingly, the Convertible Notes, Warrants and underlying shares of common stock issuable upon conversion of the Convertible Notes and exercise of the Warrants may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The Company has agreed to file one or more registration statements with the Securities and Exchange Commission registering the resale of the shares of common stock issuable upon conversion of the Convertible Notes and exercise of the Warrants issued in connection with the Financing. This press release does not constitute an offer to sell or the solicitation of an offer to buy the convertible notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful prior to registration or qualification under the securities laws of any such jurisdiction. ABOUT FARADAY FUTURE Faraday Future is the pioneer of the Ultimate AI TechLuxury market amidst the global trend of EVs. Luxury is just one of the key factors reflecting FF’s achievements in reshaping the EV industry. The company is dedicated to establishing an ever-evolving, interactive in-car software and operating system powered by artificial intelligence and user-generated data, optimizing the experience for each individual within an ecosystem of worldwide users who are also contributors to the innovative FF model. FORWARD LOOKING STATEMENTS This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the closing of the Convertible Notes financing, the Faraday X (FX) strategy and plans for the FX brand, the delivery of two prototype mules, and anticipated use of funds from the Convertible Notes financing, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: that the closing of the Financing could be delayed or not occur at all; the timing for the two prototype mules to clear U.S. customs; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warrant claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on May 28, 2024, as amended on May 30, 2024, and June 24, 2024, as updated by the “Risk Factors” section of the Company’s first quarter 2024 Form 10-Q filed with the SEC on July 30, 2024, and other documents filed by the Company from time to time with the SEC. View source version on businesswire.com : https://www.businesswire.com/news/home/20241222966710/en/ CONTACT: Investors (English):ir@faradayfuture.com Investors (Chinese):cn-ir@faradayfuture.com Media:john.schilling@ff.com KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: LUXURY ALTERNATIVE VEHICLES/FUELS TECHNOLOGY EV/ELECTRIC VEHICLES AUTOMOTIVE AUTOMOTIVE MANUFACTURING SOFTWARE MANUFACTURING RETAIL ARTIFICIAL INTELLIGENCE SOURCE: Faraday Future Intelligent Electric Inc. Copyright Business Wire 2024. PUB: 12/22/2024 05:11 PM/DISC: 12/22/2024 05:09 PM http://www.businesswire.com/news/home/20241222966710/en Copyright Business Wire 2024.
Binghamton 75, LIU 70, OTJUST SPAMMING | Can social media be kept out of the child's reach?None
Ruby's Room is a café that has recently opened in Abington (Image: Ruby's Room) Stay up to date with all the latest news, features and reviews of all things food, drink, and entertainment with our weekly What's On email More Newsletters Subscribe Please enter a valid email Something went wrong, please try again later. More Newsletters We use your sign-up to provide content in ways you’ve consented to and improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. More info Thank you for subscribing! We have more newsletters Show me See Our Privacy Notice See Our Privacy Notice × Group 28 Stay up to date with all the latest news, features and reviews of all things food, drink, and entertainment with our weekly What's On email Invalid email Something went wrong, please try again later. Sign Up No thanks, close We use your sign-up to provide content in ways you’ve consented to and improve our understanding of you. This may include adverts from us and third parties based on our knowledge of you. More info × Group 28 Thank you for subscribing! We have more newsletters Show Me No thanks, close See our Privacy Notice A new café has opened in a Cambridgeshire village to act as a place for "the community to get together, enjoy a drink, and come together socially". Ruby's Room in Great Abington is run by its owner, Victoria Beckett, alongside her partner, who provide every visitor with a "warm welcome". The café is named after someone very personal to Miss Beckett. She said: "The origins of the name for Ruby's Room comes from my first daughter, who was stillborn, so it is an ode to her. It's quite a nice story of how we came up with the name." When asked what makes Ruby's Room stand out from other cafés in the county, Miss Beckett highlighted the good customer service and dedication to supporting other local businesses. She said: "I think it's the warm welcome you get, the sense of community, and the selection of high quality produce on offer. Everything is locally sourced and all of our meat is from local butchers. It's responsibly sourced and supports the local supply chain." In terms of the must-try items on the café's menu, Miss Beckett had a few recommendations for first-time visitors to Ruby's Room. She said: "Our sausage rolls have proven very popular. People are coming back for them and raving about them. We also get sourdough from the Loaf Tin bakery, which is a Wendens Ambo local business and is wildly popular. Or you should try our marmite and parmesan swirls." Some of the pastries and cakes on offer at the café (Image: Ruby's Room) Ruby's Room is selling a full breakfast and brunch menu alongside sandwiches, toasties, jacket potatoes, and soups on its lunch menu. For those with a sweet tooth, the café stocks a range of pastries and cakes all supplied from local businesses that can be enjoyed with a hot drink. The café also has its own deli that sells fine wines, cheeses, cured meats, and chutneys that are also locally sourced. Ruby's Room is also dog-friendly and offers free pup cups so no member of the family is left out. Ruby's Room can be found at 79a High Street in Great Abington. Story Saved You can find this story in My Bookmarks. Or by navigating to the user icon in the top right. Follow CambridgeLive Facebook X (Twitter) Comment More On Food and drink Things to do in Cambridgeshire Cambridgeshire
The soaring stock market has helped fuel a bump in sales at luxury retailers in Toronto in December, but some brands that have been steeply increasing prices are experiencing headwinds, say experts. “The strong markets have made people feel more confident,” said Larry Rosen, CEO of Harry Rosen, citing strong December sales following a late start to the holiday season due to a later Black Friday than usual. “When people’s houses go up in price and people’s stock portfolios increase, it gives them a greater level of confidence, people are more free-spending and we’re certainly feeling a positiveness this December,” said Rosen. Holt Renfrew spokesperson Adam Grachnik said stores saw increased traffic in November and their strongest Black Friday and Cyber Monday in recent years. “More specifically, beauty and accessories are exceeding expectations the past few months, and it’s good to see the momentum continue,” said Grachnik. Darren Mason, president of Andrew’s, said sales at all three Toronto stores are positive and all channels are experiencing growth. “I believe the strength in the markets has helped offset the inflation effect made particularly worse by a low dollar ,” said Mason. Fashion — one of the pillars of luxury retailing — experienced a sluggish 2024 overall, according to a recent report by McKinsey & Company . In 2025, fashion industry growth is expected to remain low but increase slightly. “In particular, the industry will benefit from falling inflation and increased tourism in Europe, the resilience of high-net-worth individuals in the United States, and new growth engines in Asia (to counteract uncertainty around consumer spending in China, which is still recovering from the pandemic),” according to the report. “China will remain the region’s centre of gravity, but as the country is buffeted by macroeconomic headwinds, brands will pivot focus to other Asian markets, most notably Japan, Korea and India.” Fashion retailers have been feeling the brunt of the slowdown in the Chinese economy, and sales are down in the Japanese market as well. LVMH reported sales fell three per cent in the third quarter, and five per cent in the fashion and leather goods division, dominated by Louis Vuitton and Dior. Kering, the French luxury powerhouse that owns Gucci, reported a 16 per cent drop in the same quarter, with sales at Gucci itself down 25 per cent. Luxury and retail consultant Lanita Layton said some brands that have been increasing prices once or twice a year are beginning to experience pushback from some consumers, including investors in cryptocurrencies that have soared in value since the election of Donald Trump , who has signalled his support for the digital currencies. “People are starting to push back as to whether or not the quality is there for the prices they are charging,” said Layton. “They’re asking themselves: ‘How much is a bag or a pair of shoes really worth?’” While crypto investors often make headlines for top-end luxury purchases, research has shown they’re more likely to use profits to pay down their mortgage first. Shahin Zafar, who began investing in cryptocurrencies in 2017, is planning to exit his position in early 2025, pay off his condo, take a trip and get the car of his dreams, a BMW M4 convertible. “If I was in my 30s, I’d probably splurge, do something stupid,” said Zafar, 52. Ben Perrin, a Calgary-based Bitcoin investor since 2014, who now runs YouTube tutorials on the topic, said he’s not sure the run-up in cryptocurrency prices will trigger a wave of spending by investors. A lot of Bitcoin investors are in it for the long haul, and inflation has hit a lot of people hard, which would undermine the impulse to spend in an uncontrolled way, said Perrin. “Some people that had some disposable income to put away are going to be feeling good this holiday season, but I think there’s an awful lot of people that are also hurting right now, too.”
In a move poised to reshape the contours of the Bitcoin mining landscape, MARA Holdings Inc., a significant player in the cryptocurrency technology arena, has positioned itself to acquire a 114-megawatt wind farm located in the north Texas region. This particular farm, based in Hansford County, is expected to serve as the powerhouse for MARA's data center operations dedicated to Bitcoin mining, according to information revealed in an article by Chron yesterday. This acquisition, orchestrated by the Fort Lauderdale, Fla. headquartered company, is predicated on a definitive agreement, and though it requires regulatory nods, the transaction's closure is anticipated to occur in the first quarter of 2025. In a strategy that might appear counterintuitive, MARA plans to disconnect the wind farm from the existing energy grid, employing the renewable power output to energize its mining hardware, as per a report by Public Power . With energy usage being a critical and scrutinized facet of Bitcoin mining, this strategic purchase signals a substantial shift towards sustainability within the industry. To elaborate, MARA's Chairman and CEO, Fred Thiel, in a statement obtained by Bloomberg, expounded on the significance of this acquisition. "This acquisition serves as a blueprint for how the energy and data center sectors can collaborate to create long-term value while advancing sustainability initiatives," he explained. Thiel's vision encapsulates the utilization of "100% renewable, zero-marginal energy cost" resources to power a process traditionally criticized for its hefty energy footprint, as reported by Chron . Contrasting with the state's existing energy profile, the wind farms in question were not part of the Electric Reliability Council of Texas (ERCOT) grid, but were supervised by the Southwest Power Pool network which is responsible for the central U.S. energy market. Under MARA's management, the site will use last-generation ASIC mining hardware, which could have ended up discarded, hence amplifying the firm’s environmental commitment, the equipment, will be in use approximately "30% of the time," Thiel told Chron . Decisively, Texas continues to be a magnet for cryptocurrency enterprises, attributed to its deregulated power market, vast space, and business-friendly ethos, the Public Utility Commission of Texas even mandated registration for crypto miners within the ERCOT grid in a recent regulation to better gauge the emerging energy demands of this sector. MARA's significant purchase appears to align with the state's broader economic narratives while promising to alleviate grid congestion and foster renewable energy prospects.
Will Guillory: sources tell me and @KellyIko Source: What's the buzz on Twitter? @ Brandon Ingram has been getting bumped and bodied on dribbles throughout 3Q, but it's finally catching up to Warriors with a couple fouls - @ Update: Jordan Hawkins (back) and Brandon Ingram (ankle) are available vs. Golden State. CJ McCollum (adductor) is out - More on Jim Eichenhofer: Update: -via / November 22, 2024 for the contest -via / November 21, 2024 In the second game of a back-to-back Wednesday, . -via / November 20, 2024A fugitive gains fame in New Orleans eluding dart guns and nets