Property Solutions Acquisition Corp. Announces Stockholder Approval of Business Combination with Faraday Future
22 Juillet 2021 - 12:20AM
Business Wire
Property Solutions Acquisition Corp. ("PSAC") (NASDAQ: PSAC),
today announced the results for the ten proposals considered and
voted upon by its stockholders at its special meeting on July 20,
2021. PSAC reported that all of the proposals related to the
previously announced business combination agreement between PSAC
and Faraday Future (“FF”) were approved by the PSAC stockholders at
the special meeting. A Form 8-K disclosing the full voting results
has been filed with the Securities and Exchange Commission.
Additionally, the deadline for electing redemptions has passed,
and 99.91% of funds will remain in PSAC’s trust account as of
closing. As a result, FF expects to receive approximately $1
billion in gross proceeds at the time of the business
combination.
The closing of the business combination is anticipated to take
place on or about July 21, 2021. Following closing of the business
combination, PSAC will be renamed “Faraday Future Intelligent
Electric Inc.” and its common stock and warrants are expected to
commence trading on the Nasdaq Global Exchange on or about July 22,
2021 under the ticker symbols “FFIE” and “FFIEW”, respectively.
About Faraday Future Established in May 2014, FF is a
global shared intelligent mobility ecosystem company, headquartered
in Los Angeles, California. FF's vision is to create a shared
intelligent mobility ecosystem that empowers everyone to move,
connect, breathe, and live freely. FF aims to perpetually improve
the way people move by creating a forward-thinking mobility
ecosystem that integrates clean energy, AI, the Internet and new
usership models. With the FF 91, FF has envisioned a vehicle that
redefines transportation, mobility, and connectivity, creating a
true “third Internet living space,” complementing users’ home and
smartphone Internet experience.
Follow Faraday Future: https://www.ff.com/
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
About Property Solutions Acquisition Corp. Property
Solutions Acquisition Corp. is a special purpose acquisition
company formed for the purpose of effecting a merger, stock
purchase or similar business combination with one or more
differentiated businesses. The company is managed by Co-CEOs Jordan
Vogel and Aaron Feldman.
Property Solutions I is a $230 million SPAC formed in July 2020
and is traded on the Nasdaq under the ticker symbol “PSAC”.
Forward-Looking Statements This press release includes
“forward looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,”
“will,” “should,” “future,” “propose” and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside PSAC’s or FF’s management’s
control, that could cause actual results or outcomes to differ
materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or
outcomes include: the inability to complete the transactions
contemplated by the proposed business combination; the inability to
recognize the anticipated benefits of the proposed business
combination, which may be affected by, among other things, the
ability to meet the Nasdaq’s listing standards following the
consummation of the transactions contemplated by the proposed
business combination; costs related to the proposed business
combination; FF’s ability to execute on its plans to develop and
market its vehicles and the timing of these development programs;
FF’s estimates of the size of the markets for its vehicles; the
rate and degree of market acceptance of FF’s vehicles; the success
of other competing manufacturers; the performance and security of
FF’s vehicles; potential litigation involving PSAC or FF; the
result of future financing efforts and general economic and market
conditions impacting demand for FF’s products. Other factors
include the possibility that the proposed transaction does not
close, including due to the failure of certain closing conditions.
The foregoing list of factors is not exhaustive. You should
carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the
registration statement on Form S-4 and proxy statement/consent
solicitation statement/prospectus discussed above and other
documents filed by PSAC from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and neither PSAC nor FF undertake any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210720006193/en/
Faraday Future Investors: ir@faradayfuture.com Media:
media@faradayfuture.com
PSAC Jordan Vogel jordan@benchmarkrealestate.com
Property Solutions Acqui... (NASDAQ:PSAC)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Property Solutions Acqui... (NASDAQ:PSAC)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024