Faraday Future Intelligent Electric Inc. has announced a supplement to its definitive proxy statement for a special meeting of stockholders scheduled for February 5, 2024. The supplement, filed on January 10, 2024, clarifies voting rights associated with the company's Series A Preferred Stock for two key proposals. The first proposal seeks stockholder approval to increase the authorized shares of common stock from 154,437,500 to 1,389,937,500, and the total authorized shares of common and preferred stock from 164,437,500 to 1,399,937,500. The second proposal is for a reverse stock split of the common stock at a 1-for-3 ratio, to be potentially executed within a year post-meeting as determined by the board. The amendment specifies that the Series A Preferred Stock, which has one outstanding share with 4,500,000,000 votes, is...Show More

Faraday Future Intelligent Electric Inc. has announced a supplement to its definitive proxy statement for a special meeting of stockholders scheduled for February 5, 2024. The supplement, filed on January 10, 2024, clarifies voting rights associated with the company's Series A Preferred Stock for two key proposals. The first proposal seeks stockholder approval to increase the authorized shares of common stock from 154,437,500 to 1,389,937,500, and the total authorized shares of common and preferred stock from 164,437,500 to 1,399,937,500. The second proposal is for a reverse stock split of the common stock at a 1-for-3 ratio, to be potentially executed within a year post-meeting as determined by the board. The amendment specifies that the Series A Preferred Stock, which has one outstanding share with 4,500,000,000 votes, is entitled to vote only on these two proposals and must vote in the same proportion as the common stock votes. The record date for determining stockholders eligible to vote remains December 21, 2023. Stockholders who have already voted by proxy do not need to take further action unless they wish to revoke their proxy.