- Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) has signed an Amended and Restated Shareholder Agreement with FF Top LLC, the wholly owned subsidiary of FF Global Partners LLC.
- The newly signed Shareholder Agreement solidifies FF Top as an important shareholder with 1:10 super voting rights, subject to shareholder approval.
- Also, 1:20 super voting rights will be unlocked when FF’s market cap reaches $3 billion.
- FF Top will also have the right to nominate four designees among seven board seats.
- In addition, the company and the China Huanggang Government have also reached a non-binding Cooperation Framework Agreement for promoting its U.S.-China dual-home market strategy.
- Faraday Future intends to relocate its future FF China Headquarters to Huanggang, supporting its U.S.-China dual home market and U.S.-China dual DNA strategy.
- Faraday Future expects to start production of a saleable FF 91 Futurist at the end of March 2023.
- Price Action: FFIE shares are trading higher by 16.1% at $0.55 on the last check Wednesday.
- Photo Via Company
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