Summary by Moomoo AI
On February 23, 2024, Faraday Future Intelligent Electric Inc. ("Faraday Future" or the "Company") filed an amendment to its charter to execute a reverse stock split at a ratio of 1:3, effective as of 5:00 p.m., Eastern Time, on February 29, 2024. This action was authorized by the Company's stockholders during a special meeting held on February 5, 2024. The reverse stock split will result in every three shares of issued and outstanding common stock being automatically converted into one share of common stock. The number of authorized shares of common stock will also be reduced to 463,312,500. Adjustments will be made to the Company's stock incentive plans, outstanding warrants, and convertible securities to reflect the reverse stock split. Faraday Future's Class A common stock...Show More