Faraday Future Expects Ability to Finance Future Growth with Reverse Stock Split and the Registration Statements on Form S-3
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced it expects to finance future growth with its previously announced reverse stock split and the filing of Registration Statements on Form S-3.
- Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced it expects to finance future growth with its previously announced reverse stock split and the filing of Registration Statements on Form S-3.
- On Friday, August 25th, the Company announced a reverse stock split of the issued and outstanding shares of the Company’s common stock, at a ratio of 1-for-80.
- The authorized shares of Company’s common stock were also reduced from 1,765,000,000 to 154,437,500 shares following the reverse stock split.
- The Company believes that the reverse stock split together with the Registration Statements, when effective, will provide investors with long-term value.