Faraday Future Intelligent Electric Inc. (“Faraday Future,” “FF,” or the “Company”) today announced that all proposals presented at the special meeting of the Company’s stockholders on March 7, 2025, were approved.
The approval of the proposal to increase the number of authorized shares of the Company’s common stock allows the Company to meet its existing obligations to issue shares of common stock as and if they become due, for conversion of promissory notes, and exercise of outstanding warrants. It also allows for possible future financings or acquisition transactions, stock issuances pursuant to employee benefit plans, and other proper corporate purposes.
In particular, in order to fund the Company’s ongoing operations and business plan, including to continue production of the FF 91 2.0 Futurist Alliance and to help fund the execution of the FX mass-market strategy, the Company is seeking to raise additional capital from various fundraising efforts currently underway to bolster its cash on hand.
The modest 24% increase in authorized shares of common stock reflects the Company’s commitment to prudent share capital management. Moving forward, FF intends to continue to adhere to this management and strengthen its business operations to balance capital needs with stockholder interests, with the goal of maximizing stockholder value.
The FX project has also seen significant recent progress. The first two FX 6 camouflaged prototype mules have departed from Shanghai and are currently enroute to FF’s Los Angeles headquarters, with arrival at the Port of Long Beach expected in mid-March.
SOURCE: Faraday Future
