FFR (FF EAI Robotics Ecosystem), formerly AIxCrypto Holdings, entered into definitive agreements on October 12 to acquire the robotics business of Faraday Future Intelligent Electric (FFAI) in an all‑stock transaction that values the unit at approximately $200 million. Under the terms, FFR will issue shares to FFAI at a price of $2.246 per share, which places the post‑transaction valuation of FFR at about $60 million on a fully diluted basis. The deal, which follows a non‑binding term sheet announced the previous month, is expected to close by the end of October, subject to customary closing conditions.
Both companies’ special committees of independent directors have approved the transaction, and Advanture Capital Solutions, acting as adviser to FFR’s special committee, has provided a fairness opinion. A special stock dividend that appeared in the earlier term sheet has been removed from the final agreement.
In addition to the share exchange, FFR has secured up to $10 million of PIPE financing priced at market rates, without any discount or warrant features. After closing, the anticipated ownership structure is roughly 65% held by FFAI, about 10% by existing FFR shareholders, 5% by PIPE investors, and 20% by employees of the robotics business, although these percentages may be adjusted.
The robotics unit had shipped 817 units as of the end of September and reported cumulative revenue of approximately $1.52 million. FFAI’s management projects unaudited revenue of about $7 million for the current year and $45 million for 2027, though FFR has not incorporated these figures into its formal guidance.
Both parties acknowledge that the robotics business relies entirely on Chinese manufacturers for its products, highlighting risks such as potential federal import restrictions on Chinese robotics, tariff uncertainty, and dependence on a single original equipment manufacturer for the majority of its output.