On July 21, 2021, Faraday&Future Inc. closed the transaction. The company issued 76,140,000 class A common shares at a price of $10 per share for gross proceeds of $761,400,000 in the transaction. All the securities issued as part of the transaction, are subject to lock-up period. The transaction included participation from 47 investors including Zhejiang Geely Holding Group. The investors acquired 23.5% stake as part of the transaction. Minimum investment accepted from any outside investor is $500,000.