Faraday Future held a special meeting of stockholders on August 12, 2026. Stockholders approved the issuance of senior convertible promissory notes in a private placement with an aggregate principal amount of $25 million to comply with Nasdaq Listing Rule 5635(d). This financing is part of approximately $70 million secured over the prior two months to support Phase 1 of the company's Embodied AI robotics strategy. The meeting also featured voting results on a name change proposal, which was rejected by shareholders, and an adjournment proposal, which was approved. Faraday Future operates in the embodied artificial intelligence and robotics industry, developing humanoid, quadruped, and mobile manipulation robots.
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