Thu, Aug 1, 9:30 PM (88 days ago)
Faraday Future Intelligent Electric Inc. (FFIE) filed a Form 8-K on August 1, 2024, detailing significant corporate changes. Key highlights include: 1. **Stock Increase**: The company amended its Certificate of Incorporation to increase authorized common stock from 463.3 million to 4.17 billion shares, and total authorized shares from 473.3 million to 4.18 billion. 2. **Director Elections**: Five directors were elected to serve until the 2025 annual meeting: Matthias Aydt, Chui Tin Mok, Chad Chen, Jie Sheng, and Lev Peker. 3. **Audit Firm Appointment**: Macias Gini & O’Connell LLP (MGO) was ratified as the independent registered public accounting firm for 2024. 4. **Reverse Stock Split**: Approved a reverse stock split in a range of 1-for-2 to 1-for-40, to be determined by the Board within a year. 5. **Stock Incentive Plan**: Increased shares available under the 2021 Stock Incentive Plan by 88.25 million shares. 6. **Series A Preferred Stock**: Filed a Certificate of Elimination for Series A Preferred Stock, eliminating its designation and reverting it to unissued status. These changes are expected to impact FFIE's financial structure and stock value significantly.