Faraday Future 8-K: Stock & Warrants Details
Ticker: FFAIW · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1805521
| Field | Detail |
|---|---|
| Company | Faraday Future Intelligent Electric INC. (FFAIW) |
| Form Type | 8-K |
| Filed Date | Jun 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: warrants, stock-structure, corporate-actions
Related Tickers: FFIE
TL;DR
FFIE 8-K out: Warrants exercisable at $11.50. Old name was Property Solutions Acquisition Corp.
AI Summary
Faraday Future Intelligent Electric Inc. filed an 8-K on June 26, 2024, reporting on various events. The filing includes information about their Class Common Stock and Redeemable Warrants, which are exercisable for shares at $11.50 per share. The company was formerly known as Property Solutions Acquisition Corp. before changing its name on March 4, 2020.
Why It Matters
This filing provides key details about Faraday Future's equity structure, including the exercise price for their warrants, which is important for understanding potential dilution and capital raising capabilities.
Risk Assessment
Risk Level: medium — The filing details warrant exercisability, which can impact share count and investor value, but doesn't disclose new financial distress or major operational changes.
Key Numbers
- $11.50 — Warrant Exercise Price (Price at which redeemable warrants can be exercised for shares.)
Key Players & Entities
- Faraday Future Intelligent Electric Inc. (company) — Registrant
- Property Solutions Acquisition Corp. (company) — Former company name
- March 4, 2020 (date) — Date of name change
- June 26, 2024 (date) — Date of earliest event reported
- 11.50 (dollar_amount) — Warrant exercise price
FAQ
What is the exercise price for Faraday Future's redeemable warrants?
The redeemable warrants are exercisable for shares of Class Common Stock at an exercise price of $11.50 per share.
When did Faraday Future Intelligent Electric Inc. change its name?
The company changed its name from Property Solutions Acquisition Corp. on March 4, 2020.
What is the filing date for this 8-K report?
The filing date for this 8-K report is June 27, 2024, with the earliest event reported on June 26, 2024.
What type of securities are mentioned in relation to the exercise price?
Redeemable Warrants are mentioned as being exercisable for shares of Class Common Stock at the specified price.
What was Faraday Future's previous corporate identity?
Faraday Future Intelligent Electric Inc. was formerly known as Property Solutions Acquisition Corp.
Filing Stats: 697 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-06-27 16:44:50
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share FFIE The Nasdaq Stock Mar
- $11.50 — A common stock at an exercise price of $11.50 per share FFIEW The Nasdaq Stock Ma
Filing Documents
- ea0208655-8k_faraday.htm (8-K) — 32KB
- ea020865501ex99-1_faraday.htm (EX-99.1) — 10KB
- 0001213900-24-056701.txt ( ) — 260KB
- ffie-20240626.xsd (EX-101.SCH) — 4KB
- ffie-20240626_def.xml (EX-101.DEF) — 26KB
- ffie-20240626_lab.xml (EX-101.LAB) — 36KB
- ffie-20240626_pre.xml (EX-101.PRE) — 25KB
- ea0208655-8k_faraday_htm.xml (XML) — 6KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On June 27, 2024, Faraday Future Intelligent Electric Inc. (the "Company") issued a press release with respect to the matters set forth in Item 8.01 below. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Item 7.01 of this report (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration forth by specific reference in such filing.
01 Other Events
Item 8.01 Other Events. As previously disclosed, the Company requested a hearing before the Nasdaq Hearings Panel (the "Panel") to present its plan, and request an extension, to evidence compliance with the periodic filing and minimum bid price requirements for continued listing on The Nasdaq Capital Market. The hearing was held on June 13, 2024. By letter dated June 26, 2024, the Company was notified that the Panel had granted the Company's request for continued listing on Nasdaq subject to the Company's compliance with the periodic filing requirement by July 31, 2024, and the minimum bid price requirement by August 31, 2024. The Company is taking definitive steps to timely satisfy the conditions set forth in the Panel's decision; however, there can be no assurance that the Company will be able to do so.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K: No. Description of Exhibits 99.1 Press Release dated June 27, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FARADAY FUTURE INTELLIGENT ELECTRIC INC. Date: June 27, 2024 By: /s/ Jonathan Maroko Name: Jonathan Maroko Title: Interim Chief Financial Officer 2