Summary by Futu AI
Faraday Future Intelligent Electric Inc. (FFIE) has announced a reverse stock split that will take effect on August 19, 2024. The split will be conducted at a ratio of 1-for-40, meaning that shareholders will receive one new share for every forty shares they currently hold. Following the split, the company's stock symbol on the options market will change from FFIE to FFIE3. The new CUSIP number for Faraday Future Intelligent Electric Inc. will be 307359885. The pricing for the new FFIE3 option will be set at 0.03 times the price of the current FFIE option. This corporate event will result in adjustments to the contract multiplier, strike divisor, and the deliverable per contract for options and futures, as determined by the Options Clearing Corporation (OCC) in accordance with their by-laws. The OCC has issued a disclaimer stating that they are not responsible for the accuracy or completeness of the summary of corporate events and advises investors to independently verify all information relevant to their investment decisions.
