FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI): Nasdaq/NYSE listing notice — Faraday Future receives Nasdaq notice for failure to hold annual meeting; already facing bid price deficiency

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Nasdaq notified FFIE on Jan 4, 2023, for not holding annual meeting within 12 months of fiscal year-end Dec 31, 2021.
Company has 45 days to submit compliance plan; if accepted, may get exception until June 29, 2023.
Previously disclosed bid price deficiency (Oct 31, 2022) requires minimum $1.00 closing bid by May 1, 2023.
Stockholders approved reverse stock split (1:2 to 1:10) to address bid price; company plans to effect it if needed.
Failure to regain compliance could result in delisting of common stock from Nasdaq.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

FARADAY FUTURE INTELLIGENT ELECTRIC INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

October 31, 2022, relating to its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive business days in accordance with Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Deficiency”). The Notice has no immediate effect on the listing of the common stock on Nasdaq . The Company has 180 calendar days from October 31, 2022, or until May 1, 2023, to regain compliance with the minimum bid requirement under Nasdaq Listing Rule 5550(a)(2). To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of 10 consecutive tr

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

FARADAY FUTURE INTELLIGENT ELECTRIC INC. received a nasdaq deficiency notice notice regarding other (rules 5620(a), 5810(c)(2)(G)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5620(a), 5810(c)(2)(G)

Exact text from the filing

January 4, 2023, Faraday Future Intelligent Electric Inc. (the “Company”) received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with the rules for continued listing as set forth in Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G) since the Company has not yet held an annual meeting of stockholders (the “Annual Meeting”) within 12 months of the Company’s fiscal year-end of December 31, 2021. The Company now has 45 days to submit a plan to regain compliance. If that plan is accepted by Nasdaq, then the Company may b

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FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-001840

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