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Faraday Future To Execute 1-For-3 Reverse Stock Split And Reduce Authorized Shares In Strategic Move

Author: Benzinga Newsdesk | February 26, 2024 03:55am

Faraday Future Intelligent Electrica  intends to implement a reverse stock split of the issued and outstanding shares of the Company's common stock, par value $0.0001 per share (the "common stock"), at a ratio of 1-for-3 (the "reverse stock split"), that is expected to become effective at 5:00 p.m. ET on February 29, 2024. The Company's common stock is expected to begin trading on a split-adjusted basis commencing upon market open on March 1, 2024.

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