Faraday Future Intelligent Electric Inc. (FFIE) has issued a communication to its employees on July 22, 2024, urging them to vote in favor of crucial proposals at the upcoming Annual Stockholders Meeting scheduled before July 31, 2024. The Board of Directors recommends approval of two significant proposals. The first, Proposal 3, seeks to increase the number of authorized shares of common stock to facilitate strategic investments and support production and delivery of the FF 91, as well as the development of a China-US automotive industry bridge strategy. The second, Proposal 4, is a Reverse Stock Split Proposal, which, if approved, would authorize a reverse stock split with a ratio of up to 40 to 1. This measure aims to prevent the delisting of the company's common stock...Show More

Faraday Future Intelligent Electric Inc. (FFIE) has issued a communication to its employees on July 22, 2024, urging them to vote in favor of crucial proposals at the upcoming Annual Stockholders Meeting scheduled before July 31, 2024. The Board of Directors recommends approval of two significant proposals. The first, Proposal 3, seeks to increase the number of authorized shares of common stock to facilitate strategic investments and support production and delivery of the FF 91, as well as the development of a China-US automotive industry bridge strategy. The second, Proposal 4, is a Reverse Stock Split Proposal, which, if approved, would authorize a reverse stock split with a ratio of up to 40 to 1. This measure aims to prevent the delisting of the company's common stock from the Nasdaq Capital Market, contingent on meeting the minimum bid price requirement by August 31, 2024. The Board has stated that if the stock price meets Nasdaq's minimum bid requirements naturally, they may decide not to proceed with the reverse stock split. The communication includes forward-looking statements and addresses the company's plans to regain compliance with Nasdaq listing standards, the intended reverse stock split, and the increase in authorized shares. Shareholders are directed to the company's website for voting instructions and additional information. The proxy statement related to these proposals was filed with the SEC on July 5, 2024, and mailed to stockholders around the same date.