Faraday Future receives noncompliance notification from Nasdaq

Faraday Future (FFAI) announced that the company has received a notice from Nasdaq stating that the company’s Class A common stock failed to meet the $1.00 per share minimum bid price requirement 30 consecutive trading days, and providing 180 days to regain compliance, as outlined in Nasdaq Listing Rule 5810. The company now has until Wednesday Sept. 16, to meet the requirement for its shares of its Class A common stock to maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive trading days, unless the Nasdaq staff exercises its discretion to extend this ten trading day period.