Brief: Faraday Future Proposes Reverse Stock Split Ratio of Up to 40:1

Faraday Future Intelligent Electric

24/06/2024 23:04

June 24 (Reuters) - Faraday Future Intelligent Electric
Inc  FFIE.O :
    * FARADAY FUTURE ANNOUNCES PLANS FOR REGAINING COMPLIANCE
WITH
NASDAQ’S LISTING STANDARDS
    * FARADAY FUTURE - PROPOSING A REVERSE STOCK SPLIT RATIO OF
UP TO
40:1
    * FARADAY FUTURE - MAY DEFER OR NOT IMPLEMENT A REVERSE
STOCK
SPLIT
    * FARADAY FUTURE - PROPOSING AN INCREASE IN AUTHORIZED
SHARES THAT
WOULD ENABLE IT TO BETTER PURSUE EQUITY AND EQUITY-LINKED
STRATEGIC FINANCING
    * FARADAY FUTURE - REVERSE STOCK SPLIT PROPOSAL INCLUDES A
PROPOSED RANGE BETWEEN 1-FOR-2 AND 1-FOR-40 SHARES OF
OUTSTANDING COMMON STOCK
    * FARADAY FUTURE - FINAL RATIO WILL BE DETERMINED BY BOARD
AFTER
STOCKHOLDER APPROVAL, WITH OPTION TO ABANDON, DELAY OR POSTPONE
REVERSE STOCK SPLIT

Source text for Eikon:  ID:nBw3nSJL2a 
Further company coverage:  FFIE.O 

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