Faraday Future stockholders approve share issuance to Yorkville and increase in authorized shares

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Stockholders approved issuance of shares to Yorkville under Standby Equity Purchase Agreement, with 293.3M for, 72.2M against.
Approved amendment to increase authorized Class A common stock from 815M to 1.69B shares; total authorized shares from 900M to 1.775B.
Special Meeting held Feb 28, 2023; 480.7M of 688.3M outstanding shares represented, constituting a quorum.
Proposal 2 had 404.5M for, 76.0M against, 226K abstain; no broker non-votes.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.99

FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved approval of advances of common stock to YA II PN, Ltd. pursuant to Standby Equity Purchase Agreement at the 2023-02-28 meeting.

Outcome: passed
Meeting: 2023-02-28

Exact text from the filing

Stockholders approved, 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.

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FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-016890

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