SCHEDULE: Faraday Future Boosts Qualigen Stake to 19.99%

Faraday Future Intelligent Electric Inc. has increased its beneficial ownership in Qualigen Therapeutics, Inc. to 19.99% following the conversion of Series B Preferred Stock.

Summary

• Faraday Future Intelligent Electric Inc. (Reporting Person) filed an amendment to its Schedule 13D, reporting an increase in its beneficial ownership of Qualigen Therapeutics, Inc. (Issuer).
• The Reporting Person now beneficially owns 1,227,147 shares of Qualigen's Common Stock, representing approximately 19.99% of the outstanding shares.
• This ownership includes shares issuable upon the conversion of Series B Preferred Stock, which became convertible after Qualigen's stockholder approval on November 12, 2025.
• The acquisition was part of a private placement offering via a Subscription Agreement dated September 19, 2025, and funded by Faraday Future's working capital.
• Faraday Future also holds a Lead Investor Agreement, dated September 19, 2025, which grants it the right to appoint members to Qualigen's board of directors and certain officers upon the closing of the transactions.
• A Registration Rights Agreement was also entered into on September 19, 2025, obligating Qualigen to register certain securities for resale.
• The reported beneficial ownership is subject to a 19.99% limitation, meaning 4,857,728 additional shares from Series B Preferred Stock conversion are not included in this calculation due to this cap.

Sentiment

Score: 7

Explanation: The filing indicates a significant strategic investment and increased influence by Faraday Future in Qualigen, suggesting a positive outlook from the investor's perspective. The beneficial ownership limitation is a minor constraint but doesn't negate the overall positive strategic move.

Positives

• Faraday Future has increased its strategic investment in Qualigen Therapeutics, indicating confidence in the Issuer.
• The Lead Investor Agreement grants Faraday Future significant influence over Qualigen's corporate governance through board and officer appointments.
• The investment was funded by Faraday Future's working capital, not borrowed funds, suggesting financial stability for this particular investment.

Negatives

• The 19.99% beneficial ownership limitation on the conversion of Series B Preferred Stock restricts Faraday Future's immediate voting power and control, despite holding rights to more shares.

Future Outlook

Faraday Future Intelligent Electric Inc. intends to continuously review its investment in Qualigen Therapeutics, Inc. and may, depending on market and economic conditions, acquire additional shares or securities, dispose of existing holdings, or engage in further investment discussions. The Lead Investor Agreement also outlines future appointments of board members and officers designated by Faraday Future.

Industry Context

This filing indicates a strategic investment by an intelligent electric mobility ecosystem company (Faraday Future) into a therapeutics company (Qualigen Therapeutics). Such cross-industry investments can signal diversification strategies or a belief in potential synergies, though the specific rationale is not detailed here. The acquisition of a significant stake and board appointment rights suggests a move towards greater influence and potential strategic collaboration or oversight, which is common in strategic investments where the investor seeks more than just a passive financial return.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders (Qualigen): Increased institutional ownership and potential strategic direction changes due to Faraday Future's influence on the board and management. Potential for future capital raises or strategic initiatives.
• Shareholders (Faraday Future): Diversification of investment and potential strategic value from the Qualigen stake.
• Management (Qualigen): New board members and officers designated by Faraday Future will likely influence management decisions and strategic priorities.

Next Steps

• Faraday Future may acquire additional shares or securities of Qualigen Therapeutics.
• Faraday Future may dispose of any Qualigen securities.
• Faraday Future may engage in discussions with Qualigen concerning acquisitions, dispositions, or further investments.
• Qualigen Therapeutics is expected to appoint members to its board of directors and certain officers designated by Faraday Future upon the closing of the transactions contemplated by the Subscription Agreement.
• Qualigen Therapeutics agreed to file a registration statement with the SEC to register for resale certain securities, including the acquired shares, upon fulfillment of certain conditions.

Key Dates

Recommendation

The filing indicates a strategic investment by Faraday Future in Qualigen, granting significant influence through board appointments. While this suggests potential for future strategic developments and increased oversight, the immediate financial impact or specific strategic direction is not detailed. The 19.99% beneficial ownership limitation also caps immediate control. Investors should hold to observe how Faraday Future's influence translates into tangible operational or financial improvements for Qualigen before making further investment decisions.

Keywords

QUALIGEN THERAPEUTICS, Faraday Future Intelligent Electric, Schedule 13D/A, Beneficial Ownership, Common Stock, Series B Preferred Stock, Private Placement, Subscription Agreement, Lead Investor Agreement, Registration Rights Agreement, Equity Investment, Corporate Governance