Written by Cláudio Afonso | LinkedIn | X
Faraday Future hosted an Investor Community Day on Saturday at its headquarters in Los Angeles. The event counted 40 shareholders who were hosted by the company’s CEO Matthias Aydt, founder YT Jia, and other executives.
“Our $FFIE Investors’ Community Day was a huge success! Dozens of investors worldwide gathered at FF HQ to experience the FF91 & engaged in an extensive discussion with our executive team. Stay tuned for more content dropping tomorrow & in the coming days!” the company wrote on X.
The event included a presentation by Faraday’s chief executive Aydt where he provided an overview of the company and introduced the FF 91.
The company is expecting to deliver the next vehicle (the 13th FF91 2.0 overall) on the last day of the month, at the Annual meeting of shareholders — the founder YT Jia unveiled last week.
In a video shared on Youtube, Faraday showed that attendees took rides in the FF91 luxurious EV model. Here’s the full video shared by the US-based startup.
On Friday, the company published a letter urging the shareholders to approve all the proposals at the upcoming Annual General Meeting scheduled for the last day of July.
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“Over the past years, we have experienced numerous ups and downs. We thank you for your steadfast support of Faraday Future over the years. You have protected our shared dreams and saved Faraday Future,” the company stated in the letter.
The company founded by YT Jia warned that if the reverse stock split is not approved, it can lead to delisting from Nasdaq making it “impossible” the capital raise in the near future. Faraday is aiming to get approved for a reverse split with a ratio ranging from 1-for-2 to 1-for-40.
In an interview with the YouTuber “The Omar Gosh Vlogs,” Faraday’s founder YT Jia revealed that deliveries will continue on the last day of July, when the Annual Meeting of shareholders will take place.
The company will host an investor community day at its headquarters on July 20, eleven days before the Annual Meeting where shareholders.
Faraday will also seek approval to increase the number of authorized shares of Class A and Class B common stock from 463,312,500 to 4,169,812,500, and the total number of authorized shares of common and preferred stock from 473,312,500 to 4,179,812,500.
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Shareholders will also vote to elect five directors to serve until next year’s annual meeting as the board also seeks ratification of Macias Gini & O’Connell LLP as the independent accounting firm for the current fiscal year.
Another item on the agenda is an amendment to the 2021 Stock Incentive Plan to increase the number of shares of Class A Common Stock available under the plan by 88,252,926 shares.
Recently, the company also said it entered into a $4.9 million lease financing arrangement with Utica Leaseco, as revealed in an SEC filing.
The agreement aims to support the EV maker’s operational and production capabilities. Year to date, the company has delivered only one vehicle as it seeks more funding in the Middle East region.
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Written by Cláudio Afonso | LinkedIn | X
