Investor Weekly Report 076 #FFAI #FFR FFR and FFAI formally signed definitive agreements on October 12. FFR will issue shares to FFAI at $2.246 per share, an approximately 50% premium, to acquire FFAI’s robotics business in an all-stock transaction valued at $200 million and give the business an independent public listing. The goal is to become the No. 1 U.S.-listed pure-play “Four-Core Full-Stack AI” humanoid and bionic EAI robotics ecosystem company and maintain a top-three overall ranking in the U.S. EAI robotics industry over the next five years. All closing steps are expected to be completed by the end of this month. ① Transaction Valuation: Under the agreements, FFR’s pre-closing equity value is approximately $60 million on a fully diluted basis. ② PIPE Financing: FFR limited this financing round to approximately $10 million and has signed agreements for its first PIPE financing of up to $10 million, priced at market. ③ Post-Closing Ownership: After closing, on an as-converted, fully diluted basis, FFAI will hold approximately 65.7% of FFR, with all newly issued shares subject to an 18-month lockup. The freely tradable public float will be only approximately 13 million shares, representing about 10.7% of FFR’s total shares. ④ FFAI Strategic Upgrade: FFAI will adopt a “Berkshire + Alphabet”-style model, upgrading its strategy to become a Robotaxi sharing network and AI VisiCabin operator, as well as a Physical AI investment holding company. ⑤ October 14 Product Launch: FFR and FFAI will jointly launch FF Nova and FF Nova Mini, along with new Physical AI education and developer platforms. FF’s current EAI robotics portfolio spans three major forms: humanoid robots, quadruped bionic robots, and mobile manipulators, with all 24 products currently available for sale. The full video of the launch event will go live at 5:00 p.m. Pacific Time on October 15.