8-K
filed August 17, 2023, 7:59 PM ET
ticker FFAI
CIK 0001805521
other material
confidence high
sentiment neutral
materiality 0.60
Faraday Future signs champion racer Justin Bell as FF 91 user/co-creation officer; shareholders approve reverse split
FARADAY FUTURE INTELLIGENT ELECTRIC INC.
- Justin Bell, 1997 FIA GT champion and 1998 Le Mans winner, signed sales and Developer Co-Creation agreements as first Phase-2 Co-Creation Delivery user.
- Stockholders authorized reverse stock split between 1:2 and 1:90, with Board discretion to implement within one year of Aug 16, 2023 special meeting.
- Conditional approval: if reverse split is 1:8 or greater, authorized common shares will be capped at 12.355B divided by the split ratio.
- Reverse split and cap approvals are expected to clear path for future financing to support FF 91 production ramp-up.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved Share Issuance Proposal to approve issuance of shares in excess of 19.99% under securities purchase agreement at the 2023-08-16 meeting.
- Outcome
- passed
- Meeting
- 2023-08-16
Exact text from the filing
Proposal 3: Share Issuance Proposal The Company’s stockholders approved, as is required by the applicable rules and regulations of the Nasdaq Stock Market, transactions involving notes and warrants
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved Authorized Share Cap Proposal to reduce authorized shares contingent on reverse split at the 2023-08-16 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-16
Exact text from the filing
Proposal 2: Authorized Share Cap Proposal The Company’s stockholders approved, if and only if the Reverse Stock Split Proposal is approved and the Reverse Stock Split is implemented at a ratio of 1-for-8 or greater, an amendment to the Company's Second Amended and Restated Certificate of Incorporation
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved 2021 Plan Proposal to amend 2021 Stock Incentive Plan to increase authorized shares by 206,785,991 at the 2023-08-16 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-08-16
Exact text from the filing
Proposal 4: 2021 Plan Proposal The Company’s stockholders approved an amendment to the Amended and Restated 2021 Stock Incentive Plan (the “2021 Plan”) in order to increase the number of shares of Class A Common Stock available for issuance under the 2021 Plan by an additional 206,785,991 shares
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved Reverse Stock Split Proposal to amend certificate of incorporation to effect reverse stock split in range of 1-for-2 to 1-for-90 at the 2023-08-16 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-08-16
Exact text from the filing
Proposal 1: The Reverse Stock Split Proposal The Company’s stockholders approved an amendment to the Company’s Second Amended and Restated Certificate of Incorporation, as amended, to effect, a reverse stock split of the Company’s common stock by a ratio of any whole number in the range of 1-for-2 to 1-for-90
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
FARADAY FUTURE INTELLIGENT ELECTRIC INC. shareholders approved Adjournment Proposal to permit further solicitation of proxies if necessary at the 2023-08-16 meeting.
- Outcome
- passed
- Meeting
- 2023-08-16
Exact text from the filing
Proposal 5: Adjournment Proposal The Company’s stockholders approved the adjournments of the Special Meeting by the Company to permit further solicitation of proxies, if necessary or appropriate
View on SEC.gov
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