Summary by Moomoo AI
Faraday Future Intelligent Electric Inc. (FFIE) has announced a 1-for-40 reverse stock split, set to take effect before the market opens on August 19, 2024. This corporate action follows an earlier adjustment to FFIE options on March 1, 2024, which resulted in a new deliverable of 34 new FFIE Class A Common Shares. Post the reverse stock split, each FFIE Class A Common Share will be exchanged for 0.025 new shares of the same class. The Options Clearing Corporation (OCC) has indicated that the adjusted FFIE2 options will be further adjusted to reflect the reverse stock split. The new deliverable per contract will be 1 new FFIE Class A Common Share, with the underlying price for FFIE2 set at 0.01 (FFIE). The OCC has issued a disclaimer advising investors to independently verify the information related to the corporate event, which may be relevant to investment decisions. Adjustments to options and futures are made on a case-by-case basis and are subject to change based on new information or changes to the event terms.
