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Faraday Future Intelligent Electric Inc. | 8-K: Current report

SEC announcement ·  Dec 29, 2023 00:00
Summary by Moomoo AI
On December 28, 2023, Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE), received a notification from the Nasdaq Stock Market LLC indicating the company's non-compliance with the Minimum Bid Price Requirement. The rule mandates a minimum bid price of $1.00 per share, which Faraday Future failed to maintain over a 30-day period from November 9 to December 27, 2023. The company now has until June 25, 2024, to regain compliance, which requires its Class A Common Stock's closing bid price to be at or above $1.00 for at least 10 consecutive trading days. If compliance is not achieved by the deadline, and Faraday Future is ineligible for an additional compliance period, it faces the risk of delisting from the Nasdaq. The company's stock will continue to trade on The Nasdaq Capital Market during the compliance period, and it may consider measures such as a reverse stock split to address the deficiency.
On December 28, 2023, Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE), received a notification from the Nasdaq Stock Market LLC indicating the company's non-compliance with the Minimum Bid Price Requirement. The rule mandates a minimum bid price of $1.00 per share, which Faraday Future failed to maintain over a 30-day period from November 9 to December 27, 2023. The company now has until June 25, 2024, to regain compliance, which requires its Class A Common Stock's closing bid price to be at or above $1.00 for at least 10 consecutive trading days. If compliance is not achieved by the deadline, and Faraday Future is ineligible for an additional compliance period, it faces the risk of delisting from the Nasdaq. The company's stock will continue to trade on The Nasdaq Capital Market during the compliance period, and it may consider measures such as a reverse stock split to address the deficiency.
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