Corporate ActionMay 29, 2026, 04:15 PM
Faraday Future Increases Authorized Common and Preferred Shares
AI Summary
Faraday Future Intelligent Electric Inc. filed an amendment to its charter to increase the number of authorized common stock from 312,285,439 to 452,813,887 shares and preferred stock from 24,087,265 to 34,926,534 shares. This action, authorized by stockholders at the Annual Meeting on May 22, 2026, increases the total authorized shares to 487,740,421. Additionally, the company filed a Certificate of Elimination for its Series A Preferred Stock following its automatic redemption after the Annual Meeting.
Key Highlights
- Authorized common stock increased from 312,285,439 to 452,813,887 shares.
- Authorized preferred stock increased from 24,087,265 to 34,926,534 shares.
- Total authorized shares increased from 336,372,704 to 487,740,421 shares.
- The charter amendment was authorized by stockholders at the Annual Meeting on May 22, 2026.
- Filed a Certificate of Elimination for Series A Preferred Stock on May 27, 2026.
- Series A Preferred Stock was automatically redeemed after the Annual Meeting.
- The eliminated Series A Preferred Stock resumed status as authorized but unissued preferred stock.
Price Impact
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