Faraday Future stockholders approve share increase and Yorkville issuance, enabling $135M funding for FF 91 production

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Stockholders approved increase in authorized Class A common shares from 815M to 1.69B.
Stockholders approved issuance of shares in excess of 19.99% to Yorkville under equity line of credit.
Approvals condition to completing $135M financing commitments to support start of production (SOP) on March 30, 2023.
FF targets SOP on March 30, first vehicles in early April, customer deliveries before end of April.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved Approval of advances of common stock issued to Yorkville under Standby Equity Purchase Agreement at the 2023-02-28 meeting.

Outcome: passed
Meeting: 2023-02-28

Exact text from the filing

Proposal 1 Proposal to approve, as is required by the applicable rules and regulations of the Nasdaq Stock Market, advances of common stock of the Company issued or to be issued to YA II PN, Ltd., an affiliate of Yorkville Advisors Global, LP (“Yorkville”), pursuant to the Standby Equity Purchase Agreement, dated November 11, 2022, between the Company and Yorkville, including the issuance of any shares in excess of 19.99% of the issued and outstanding shares of the Company’s common stock. For Against Abstain Broker Non-Votes 293,204,525 72,234,026 391,983 114,779,417

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved Adoption of amendment to Certificate of Incorporation to increase authorized shares of Class A common stock at the 2023-02-28 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-02-28

Exact text from the filing

Proposal 2 Proposal to approve the adoption of an amendment to the Company’s Second Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Class A common stock from 815,000,000 to 1,690,000,000, increasing the total number of authorized shares of common stock and preferred stock from 900,000,000 to 1,775,000,000. For Against Abstain Broker Non-Votes 404,348,316 76,035,480 226,155 N/A

View on SEC.gov

63 shareholder votes filed in the last 30 days. Browse all shareholder votes →

FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-015682

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.