On August 14, 2024, Faraday Future Intelligent Electric Inc. ("Faraday Future" or "FF") announced a reverse stock split at a ratio of 1:40, effective as of 5:00 p.m. Eastern Time on August 16, 2024. The reverse stock split was authorized by the company's stockholders during the Annual Meeting held on July 31, 2024. As a result, every 40 shares of issued and outstanding common stock will be converted into one share, and the number of authorized shares of common stock will be reduced to 104,245,313. The adjustment will also affect the number of shares reserved for issuance under the company's stock incentive plans and the number of shares subject to outstanding awards, with a proportional adjustment to the exercise price of options. The Class A common stock...Show More

On August 14, 2024, Faraday Future Intelligent Electric Inc. ("Faraday Future" or "FF") announced a reverse stock split at a ratio of 1:40, effective as of 5:00 p.m. Eastern Time on August 16, 2024. The reverse stock split was authorized by the company's stockholders during the Annual Meeting held on July 31, 2024. As a result, every 40 shares of issued and outstanding common stock will be converted into one share, and the number of authorized shares of common stock will be reduced to 104,245,313. The adjustment will also affect the number of shares reserved for issuance under the company's stock incentive plans and the number of shares subject to outstanding awards, with a proportional adjustment to the exercise price of options. The Class A common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market on August 19, 2024, under the symbol "FFIE" with a new CUSIP number. The company's publicly traded warrants, symbol "FFIEW", will also be adjusted accordingly, with every 40 warrants exercisable for one share of Class A common stock at a new exercise price. No fractional shares will be issued, and stockholders who would otherwise receive a fractional share will be issued one full share instead. The reverse stock split is intended to affect all stockholders uniformly and will not alter any stockholder's percentage ownership in the company, except for minimal changes due to the elimination of fractional shares.