FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI): Nasdaq/NYSE listing notice — Faraday Future faces Nasdaq delisting; bid price <$0.10 for 10 days, late 10-K filing

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Nasdaq determined to delist FFIE securities due to closing bid price ≤$0.10 for 10 consecutive trading days.
Company also not in compliance with Listing Rule 5250(c)(1) for failure to file 2023 Form 10-K.
Company intends to request a hearing by May 1, 2024 to appeal delisting determination, which would stay suspension.
If no appeal, trading suspension begins May 3, 2024, followed by Form 25-NSE removal.
Company considering options including filing delayed 10-K, 10-Q, and seeking shareholder approval for reverse stock split.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

FARADAY FUTURE INTELLIGENT ELECTRIC INC. received a nasdaq delisting notice notice regarding minimum bid price (rules 5810(c)(3)(A)(iii)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5810(c)(3)(A)(iii)

Exact text from the filing

April 24, 2024, Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (the “Company”) received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) dated April 24, 2024, indicating that the Company was not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii), as the Company’s securities had a closing bid price of $0.10 or less for ten consecutive trading days. The letter indicated that, as a result, the Nasdaq staff has determined to delist the Company’s securities from The Nasdaq Capital Market (the “Delisting Determination”). As previously reported, on December 28, 2023, Nasdaq notifi

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

FARADAY FUTURE INTELLIGENT ELECTRIC INC. received a nasdaq delisting notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

April 18, 2024, Nasdaq notified the Company that since it had not yet filed its Form 10-K for the year ended December 31, 2023, it no longer complied with Listing Rule 5250(c)(1). Pursuant to Listing Rule 5810(c)(2)(A), this deficiency is now an additional basis for delisting. The Company intends to request a hearing to appeal the Delisting Determination by May 1, 2024, the latest date permitted, which will stay the suspension of the Company’s securities for 15 days from the date of the request, during which time the Company’s securities will continue to be listed on The Nasdaq Capital Market.

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Source: SEC EDGAR

accession 0001213900-24-036697

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