Faraday Future Shares Slid Nearly 4% Premarket After Receiving Nasdaq Noncompliance Notice.
- Faraday Future Intelligent Electric (NASDAQ:FFIE) received a letter from Nasdaq as it was not in compliance with requirements as a result of not having timely filed its annual report on Form 10-K for the fiscal year ended December 31, 2021.
- As previously disclosed, Nasdaq granted an exception giving the Company a new deadline of May 6, 2022 to file the Q3 Form 10-Q and the Form 10-K.
- As a result of this additional delinquency, Company is required to submit an update to its original plan to regain compliance by April 19, 2022.
- The Company intends to submit a timely update to its original plan.
- As previously disclosed, Nasdaq has advised the Company that a failure to file the Q3 Form 10-Q and Form 10-K on or prior to May 6, 2022 would result in a notice of delisting of the Company’s securities.
- The company is working diligently to finalize and file the Q3 Form 10-Q and the Form 10-K as soon as practicable and currently expects to file both on or prior to the May 6, 2022 deadline
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