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Faraday Future Releases Letter From its Board of Directors and Founder, YT Jia, Encouraging All Stockholders to Vote at the Company’s AGM
LOS ANGELES--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FFIE” or the “Company”), a California-based global shared
About this update from Faraday Future Intelligent Electric Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nFaraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FFIE” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today released an open letter from its Board of Directors along with FFIE’s Founder, YT Jia, thanking all stockholders for their ongoing support and asking all FFIE stockholders to vote at the Company’s upcoming Annual Meeting of Stockholders to be held on July 31, 2024.\n\n\nDear Fellow Faraday Future Stockholders,\n\n\nWe, the Board of Directors of Faraday Future Intelligent Electric Inc., along with our Founder, YT Jia, are writing to express our sincere gratitude for your ongoing support and to highlight the importance of your vote at the Company’s Annual Meeting of Stockholders to be held on July 31, 2024. 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.\n\n\nYour Participation is Vital\n\n\nYOUR VOTE IS CRITICAL to ensure we have enough votes to satisfy the quorum requirements for the Annual Meeting. If a sufficient number of shares do not vote, we will be unable to hold our Annual Meeting at which we will seek approval to increase our authorized shares and to grant the Board discretion to effectuate a reverse stock split, among other matters. Failure to approve the former would make it impossible for the Company to raise additional capital to support the Company in achieving strategic objectives, and failure to approve the latter could lead to our delisting from Nasdaq. The failure of any of these proposals could result in significant losses for our stockholders. For the benefit of all FF stockholders, it is imperative that we maintain the Company's listed status. We believe that only then will the Company have the opportunity to create long-term value for our stockholders.\n\n\nWE URGE YOU TO PARTICIPATE and vote your shares as soon as possible and VOTE IN FAVOR of all proposals presented.\n\n\nWhy Proposals 3 and 4 are Critical\n\n\nVote FOR Proposal 3 (Share Authorization Proposal): Approval by stockholders of this proposal would authorize an increase in the number of authorized shares of the Company’s common stock. Approval is expected to help pave the way for future strate...