Faraday Future announces stockholder approval to increase authorized shares

Faraday Future Intelligent Electric, or FF, "announced that FF stockholders approved proposals to increase the authorized shares of Faraday Future Class A common stock to 1.69 billion and to permit the issuance of shares in excess of 19.99% of the issued and outstanding shares of the Company’s Class A and Class B common stock, pursuant to an equity line of credit between the Company and an affiliate of Yorkville Advisors. The voting process, managed by Broadridge Financial Solutions and carried out over the last month, resulted in the announcement of the voting results today at a special meeting of stockholders held by FF… Faraday Future stockholders’ approval was a condition to the completion of a portion of the aforementioned funding commitments of $135.0 million, which is a pivotal path for providing support to the Company in achieving its long-term goals. "