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8-K: Current report

SEC announcement ·  Apr 27 05:05
Summary by Futu AI
Faraday Future Intelligent Electric Inc. (Faraday Future), a company listed on NASDAQ under the symbol FFIE, has received a notification from The Nasdaq Stock Market LLC on April 24, 2024, indicating non-compliance with the Nasdaq Listing Rule 5810(c)(3)(A)(iii). The rule violation is due to the company's securities having a closing bid price of $0.10 or less for ten consecutive trading days, leading to a delisting determination. Previously, on December 28, 2023, Nasdaq had notified Faraday Future of non-compliance with Listing Rule 5550(a)(2) as the bid price of its securities was below $1.00 for 30 consecutive business days. The company was given until June 25, 2024, to regain compliance. Additionally, Faraday Future has not filed its Form 10-K for the year ended December 31, 2023, resulting in...Show More
Faraday Future Intelligent Electric Inc. (Faraday Future), a company listed on NASDAQ under the symbol FFIE, has received a notification from The Nasdaq Stock Market LLC on April 24, 2024, indicating non-compliance with the Nasdaq Listing Rule 5810(c)(3)(A)(iii). The rule violation is due to the company's securities having a closing bid price of $0.10 or less for ten consecutive trading days, leading to a delisting determination. Previously, on December 28, 2023, Nasdaq had notified Faraday Future of non-compliance with Listing Rule 5550(a)(2) as the bid price of its securities was below $1.00 for 30 consecutive business days. The company was given until June 25, 2024, to regain compliance. Additionally, Faraday Future has not filed its Form 10-K for the year ended December 31, 2023, resulting in another non-compliance notice on April 18, 2024, with Listing Rule 5250(c)(1). The company plans to appeal the delisting decision by May 1, 2024, which will stay the suspension of its securities for 15 days. If the appeal is not made by the deadline, trading of the company's common stock will be suspended on May 3, 2024. Faraday Future is exploring options to regain compliance, including filing its overdue annual report, timely filing its quarterly report, and considering a reverse stock split.

This announcement is a separate document:

Doc 1

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