Faraday Future effects 1:80 reverse stock split and reduces authorized shares to 154.4M

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Reverse stock split at 1:80 ratio effective 5:00 PM ET on August 25,2023; split-adjusted trading begins August 28,2023.
Authorized common shares reduced from 1,765,000,000 to 154,437,500.
Unregistered sale of 15,000,000 Class A common shares on August 24,2023 at 97% of VWAP.
Warrants adjusted: every 80 warrants exercisable for 1 share at $920.00 exercise price.
Series A Preferred Stock eliminated via Certificate of Elimination filed August 24,2023.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

FARADAY FUTURE INTELLIGENT ELECTRIC INC.: Filed Certificate of Elimination to remove the designation of Series A Preferred Stock after its automatic redemption (effective 2023-08-24).

Change: charter amendment
Effective: 2023-08-24

Exact text from the filing

On August 24, 2023, prior to the Company’s filing of the Certificate of Amendment with the office of the Secretary of State of the State of Delaware, the Company filed a Certificate of Elimination (the “Certificate of Elimination”) with the office of the Secretary of State of the State of Delaware with respect to the Company’s Series A Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), following the automatic redemption of all outstanding shares of Series A Preferred Stock after the conclusion of the Special Meeting.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

FARADAY FUTURE INTELLIGENT ELECTRIC INC.: Filed Certificate of Amendment to effect a 1-for-80 reverse stock split and reduce authorized common shares to 154,437,500 (effective 2023-08-25).

Change: charter amendment
Effective: 2023-08-25

Exact text from the filing

On August 24, 2023, the Company filed the Third Amended and Restated Certificate of Incorporation of the Company (“Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a reverse stock split at a ratio of 1:80 (the “Reverse Stock Split”) and to set the number of authorized shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock”) to 154,437,500 (which is 12,355,000,000 divided by 80, the reverse stock split ratio determined by the Board).

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13 governance changes filed in the last 30 days. Browse all governance changes →

FARADAY FUTURE INTELLIGENT ELECTRIC INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-070955

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