Faraday Future Reports Restatement Of Previously Issued Financial Statements
Portfolio Pulse from Benzinga Newsdesk
Faraday Future has reported a restatement of its previously issued financial statements due to an error related to the change in the fair value upon conversion of the notes issued under the company's Securities Purchase Agreements. The company plans to hold a shareholder communication meeting next Monday after the close of market.
July 11, 2023 | 9:44 pm
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Faraday Future's restatement of its financial statements could lead to uncertainty among investors, potentially impacting the company's stock price in the short term.
Restatements of financial statements often lead to investor uncertainty as they may indicate underlying issues with a company's financial reporting or controls. This could potentially lead to a decrease in Faraday Future's stock price in the short term.
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