share_log

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

SEC announcement ·  Feb 7 06:10
Summary by Moomoo AI
On February 5, 2024, Faraday Future Intelligent Electric Inc. (Faraday Future) held a Special Meeting of Stockholders where several key proposals were voted upon. The stockholders approved an amendment to increase the authorized shares of common stock from 154,437,500 to 1,389,937,500, and the total number of authorized shares of common and preferred stock from 164,437,500 to 1,399,937,500. Additionally, a reverse stock split of the common stock at a 1-for-3 ratio was approved, to be potentially enacted within a year as decided by the Board of Directors. The stockholders also approved transactions involving unsecured convertible senior promissory notes and a common stock purchase warrant issued to Streeterville Capital, LLC, as well as a new program for employees to purchase common stock with a portion of their base...Show More
On February 5, 2024, Faraday Future Intelligent Electric Inc. (Faraday Future) held a Special Meeting of Stockholders where several key proposals were voted upon. The stockholders approved an amendment to increase the authorized shares of common stock from 154,437,500 to 1,389,937,500, and the total number of authorized shares of common and preferred stock from 164,437,500 to 1,399,937,500. Additionally, a reverse stock split of the common stock at a 1-for-3 ratio was approved, to be potentially enacted within a year as decided by the Board of Directors. The stockholders also approved transactions involving unsecured convertible senior promissory notes and a common stock purchase warrant issued to Streeterville Capital, LLC, as well as a new program for employees to purchase common stock with a portion of their base salary. Furthermore, the company filed a Certificate of Elimination following the automatic redemption of all outstanding shares of Series A Preferred Stock, which resulted in the elimination of the designation of one share of Series A Preferred Stock and its reclassification as an authorized but unissued share of preferred stock. The meeting achieved a quorum with approximately 53.0% of the common stock and all of the Series A Preferred Stock voting.

This announcement is a separate document:

Doc 1

Doc 2

Doc 3

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more