Faraday Future sells one preferred share to executive chairman for $100 in private placement
FFAI•Faraday Future sold one Series A Preferred Stock share to Executive Chairman Jiawei Wang for $100 in a private placement on November 4, 2026. The share carries voting power on reverse stock split proposals but is not convertible or exchangeable for other company securities.
1. Preferred share sale
Faraday Future sold one Series A Preferred Stock share to Executive Chairman Jiawei Wang for $100 in an unregistered private placement on November 4, 2026. The share has substantial voting power on reverse stock split proposals, with votes mirroring those cast by common stockholders. Wang can vote it only if at least one-third of outstanding common and other preferred shares are represented at the meeting; the share is not convertible or exchangeable for other company securities.
