UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
July 22, 2024
Faraday Future Intelligent Electric Inc.
(Exact name of registrant as specified in its charter)
| Delaware |
|
001-39395 |
|
84-4720320 |
| (State or other jurisdiction |
|
(Commission File Number) |
|
(I.R.S. Employer |
| of incorporation) |
|
|
|
Identification No.) |
| 18455 S. Figueroa Street |
|
|
| Gardena, CA |
|
90248 |
| (Address of principal executive offices) |
|
(Zip Code) |
(424) 276-7616
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☒ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Class A common stock, par value $0.0001 per share |
|
FFIE |
|
The Nasdaq Stock Market LLC |
| Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $11.50 per share |
|
FFIEW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01. Regulation FD Disclosure
On July 22, 2024, Faraday Future Intelligent Electric Inc., a Delaware
corporation (the “Company”), issued a press release summarizing its Investor Community Day held on July 20, 2024. A copy of
the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this Current Report on Form 8-K, including
Exhibit 99.1, is being furnished and 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, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth
by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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: July 23, 2024 |
By: |
/s/ Jonathan Maroko |
| |
Name: |
Jonathan Maroko |
| |
Title: |
Interim Chief Financial Officer |
2
Exhibit 99.1
Faraday Future Hosts Investor Community
Day and Highlights the
Company’s Core Values to the Investment Community
| ● | Interactive day provided insight into FF’s product, technology,
operations and leadership. |
Los Angeles, CA (July 22, 2024) -- Faraday Future Intelligent
Electric Inc. (Nasdaq: FFIE) (“FF” or the “Company”), a California-based global shared intelligent electric mobility
ecosystem company held an interactive Investor Community Day at its Los Angeles HQ on July 20th. The event highlighted the Company’s
vehicle experience and executive team for participants from around the globe. Included in the event was a first-hand look into the Company’s
operations, including the FF design studio, 3D modeling lab, and R&D and vehicle service facilities at its HQ, as well as the technology
and software development areas. Additionally, demonstrations with FF’s engineering teams included experiencing the thrilling performance
and technological capabilities of the FF 91 2.0 EV.
You can view videos from the event here: https://youtu.be/vUbLF-eQatQ
https://youtu.be/qmWPhbGQ2gI
The Investor Community Day provided a transparent inside look as to
where FF stands currently, as well as the Company’s future plans in 2024 and beyond.
Executive leadership who presented included: Matthias Aydt, Global
CEO of FF and YT Jia, FF Founder and Chief Product and User Ecosystem Officer.
Fundamental takeaways that were communicated focused on the Company’s
core values and marketplace advantages and include: 1. Unique Spire product power & All-Ability aiHypercar; 2. Transformative technology
power, the Ultimate AI TechLuxury FF aiHyper 6x4 Architecture 2.0; 3. Spire brand power and a one-of-a-kind futuristic logo; and 4. An
exceptional innovative user ecosystem and the ability to build such a system. In addition, there was discussion about the FF Auto Industry
Bridge Strategy, which could replicate the idea of “double the performance at half the price" and extreme price-experience
ratio to the mass market. This could include empowering a second brand with much of the core technologies used on the $300,000 FF 91.
The superior “light” model’s advantage not only lies in the originality and swift execution of the smaller teams, but
also in focusing resources on the core values of All AI, All Hyper, All Ability's disruptive technology and product R&D.
“In my view, this first Investor Community Day was a huge success,”
said Mr. Aydt. “The entire FF organization wants to express our sincere gratitude for these investors attending this important day
and for their ongoing support as we continue to push forward with our dream to become the pioneer of the Ultimate AI TechLuxury spire
market in the AI EV era, and the disruptor of the traditional ultra-luxury car civilization.”
“A second brand could strike in the mass market with volume production,
bringing everyone the ‘AI car of the future’ and the ‘AI car of the people’. We are preparing to launch the Bridge
and second brand strategies in a future event where we will share more details and our progress. We are hopeful to set sail
together in the blue ocean market with potential partners,” said Mr. Jia.
FF plans to hold its Annual Meeting of Stockholders on July
31, 2024. FF kindly asks FF stockholders to vote FOR all proposals. Your votes are critical for Faraday’s Future! If you
need help voting your shares or have any questions, please feel free to visit the Company’s voting instruction website at https://www.ff.com/us/Vote2024/
for English and https://www.faradayfuturecn.com/cn/Toupiao2024/ for Chinese.
ABOUT FARADAY FUTURE
Faraday Future is the pioneer of the Ultimate AI TechLuxury ultra spire
market in the intelligent EV era, and the disruptor of the traditional ultra-luxury car civilization epitomized by Ferrari and Maybach.
FF is not just an EV company, but also a software-driven intelligent internet company. Ultimately FF aims to become a User Company by
offering a shared intelligent mobility ecosystem. FF remains dedicated to advancing electric vehicle technology to meet the evolving needs
and preferences of users worldwide, driven by a pursuit of intelligent and AI-driven mobility.
FORWARD LOOKING STATEMENTS
This communication includes “forward looking statements”
within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this
press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,”
“plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,”
“future,” “propose” and variations of these words or similar expressions (or the negative versions of such words
or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding
the Company’s intention to hold its annual meeting, the Company’s growth strategy and the development of the markets in which
it operates, and the development of the FF 91, are not guarantees of future performance, conditions or results, and involve a number of
known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control,
that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or
outcomes include, among others: the Company’s ability to continue as a going concern and improve its liquidity and financial position;
the Company’s ability to satisfy the conditions for continued listing set forth by the Nasdaq Hearings Panel; the possibility that
stockholder approval for the reverse stock split and/or the increase in authorized shares will not be obtained; the possibility that factors
unrelated to the reverse stock split may impact the per share trading price of the Common Stock; the Company’s ability to regain
compliance with, and thereafter continue to comply with, the Nasdaq listing requirements; the ultimate decision of the Nasdaq Hearings
Panel; the Company’s ability to pay its outstanding obligations; the Company’s ability to remediate its material weaknesses
in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements;
the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and
expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute
on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size
of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s
vehicles; the Company’s ability to cover future warrant claims; the success of other competing manufacturers; the performance and
security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive
funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of
future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s
indebtedness; the Company’s ability to cover future warranty claims; insurance coverage; general economic and market conditions
impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and
salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s
control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related
to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee
findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect
its technologies; the Company’s ability to protect against cybersecurity risks; the ability of the Company to attract and retain
employees; any adverse developments in existing legal proceedings or the initiation of new legal proceedings; and volatility of the Company’s
stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors”
section of the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on May 28, 2024, as amended
on May 30, 2024 and June 24, 2024, and other documents filed by the Company from time to time with the SEC.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in connection
with the proposals to be submitted to FF stockholders at its annual meeting seeking, among other proposals, approval to increase the number
of authorized shares of common stock and to authorize a reverse split and proportionate reduction of authorized shares if the reverse
stock split is implemented. In connection with the authorized share increase and the reverse stock split and proportionate reduction of
authorized shares, the Company filed a proxy statement filed with the Securities and Exchange Commission (the “SEC”) on July
5, 2024 in connection with the Company’s solicitation of proxies for the vote by the Company’s stockholders with respect to
the proposed authorized share increase, reverse stock split and proportionate authorized share reduction proposals, and other matters
described therein. The proxy statement was mailed to the Company’s stockholders on or around July 5, 2024. The proxy statement includes
information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies in connection with the
proposed authorized share increase, reverse stock split and proportionate authorized share reduction. The Company has also filed other
documents regarding the proposed authorized share increase, reverse stock split and proportionate authorized share reduction with the
SEC. Before making any voting decision, investors and security holders of the Company are urged to read the proxy statement and all other
relevant documents filed or that will be filed with the SEC in connection with the proposed authorized share increase, reverse stock split
and proportionate authorized share reduction as they become available because they contain important information about these proposals.
Investors and security holders can obtain free copies of the proxy
statement and all other relevant documents the Company has filed or will file with the SEC through the website maintained by the SEC at
www.sec.gov. In addition, the documents filed by the Company may be obtained free of charge from the Company’s website at https://www.ff.com/or
by written request to Faraday Future Intelligent Electric at 18455 S. Figueroa Street, Gardena, California 90248.
Participants in the Solicitation
FF and its Board of Directors and executive officers may be deemed
to be participants in the solicitation of proxies from FF’s stockholders in connection with the proposed authorized share increase,
reverse stock split and proportionate authorized share reduction and other matters described in the proxy statement. Information about
the directors and executive officers of FF is set forth in the proxy statement for its 2024 annual meeting of stockholders, which was
filed with the SEC on July 5, 2024. Investors may obtain additional information regarding the interest of FF and its directors and executive
officers in the reverse stock split proposal by reading the proxy statement relating to the annual meeting. You may obtain free copies
of these documents as described in the preceding paragraph.
Certain representatives of FF Global Partners Investment LLC, formerly
FF Top Holding LLC (“FF Top”), and its indirect parent entity FF Global Partners, LLC (“FF Global”), including,
without limitation, Jerry Wang and Weiwei Zhao (collectively, the “FF Top Representatives”), are additional participants in
the solicitation of proxies in connection with the authorized share increase and the reverse stock split and proportionate reduction of
authorized shares and other matters as described in the proxy statement. Information regarding the direct and indirect interests in the
Company, by security holdings or otherwise, of FF Global, FF Top and the FF Top Representatives is included in the proxy statement and
the Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on May 28, 2024, as amended by the Form 10-K/A
filed with the SEC on May 30, 2024 and June 24, 2024. Changes to the direct or indirect ownership of FF Top and FF Global are set forth
in SEC filings on Schedule 13D/A.
No Offer or Solicitation
This communication shall not constitute a proxy statement or solicitation
of a proxy, consent or authorization with respect to any securities or in respect of the proposed reverse stock split or authorized share
cap. This communication shall also not constitute an offer to sell or a solicitation of an offer to buy any securities of FF, nor shall
there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Investors (English): ir@faradayfuture.com
Investors
(Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
4
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