Faraday Future to invest $40.7 million in Qualigen Therapeutics

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) entered into agreements on September 19, 2025, to invest approximately $40.7 million in Qualigen Therapeutics, Inc., according to a company statement.

The investment will be made through cash, cryptocurrency stablecoin USDC, and other cryptocurrencies. Faraday Future will purchase Qualigen's common stock at $2.246 per share and Series B preferred stock at $1,000 per share.

The transaction closing is expected to occur on or about September 29, 2025, subject to customary closing conditions outlined in the subscription agreement.

Under the lead investor agreement, Qualigen will appoint two directors designated by Faraday Future upon closing. Two additional directors will be appointed following stockholder approval and within five business days of a written request from Faraday Future.

Faraday Future will have the right to designate board nominees proportionate to its beneficial ownership, with any fraction rounded up. The company will also designate the board chairperson unless its beneficial ownership falls below 5% of Qualigen and no exemptions apply.

The agreements establish Faraday Future as a lead investor in Qualigen Therapeutics, a Delaware corporation. The investment structure includes both equity and preferred stock components, providing Faraday Future with significant influence over Qualigen's board composition and strategic direction.

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