Faraday Future stockholders approve $25M private placement proposal

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) announced that stockholders approved several proposals at a Special Meeting of Stockholders held on August 12, 2026, including a private placement proposal related to the company's $25 million May 2026 financing.

The private placement proposal, approved in accordance with Nasdaq Listing Rule 5635(d), authorizes the issuance of common stock to holders of certain convertible notes. The May 2026 financing was part of approximately $70 million in aggregate financing the company secured over the prior two months, intended to support what it calls Phase 1 of its EAI robotics strategy.

According to the press release, Faraday Future reported sales and shipments of 152 units in July 2026, which it described as a monthly record. Cumulative sales and shipments reached 394 units through the end of July, against a stated full-year shipment target of 2,000 units.

The company said it has completed what it describes as a full-form EAI robot matrix across six series and three form factors: humanoid, quadruped, and mobile manipulation. It said commercial deployments are active across hotels, catering, short-term rentals, and auto dealerships.

Faraday Future is scheduled to report its second quarter 2026 financial results after market close on August 13, 2026, followed by an earnings call at 4:00 p.m.

The company's forward-looking disclosures note several material risks, including its ability to continue as a going concern, its inability to currently pay outstanding obligations, reliance on Chinese manufacturers for all robotics products, and tariff uncertainty on imports from China.

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