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Property Solutions Acquisition Corp. (PSAC) has set June 21, 2021, as the revised record date for stockholders eligible to vote on the merger with FF Intelligent Mobility Global Holdings Ltd. This follows an earlier announcement specifying June 4, 2021, as the initial record date. A definitive agreement for this business combination was announced on January 27, 2021. Once finalized, a proxy statement will be mailed to stockholders detailing the special meeting's date and agenda.
Property Solutions Acquisition Corp. (PSAC) announced June 4, 2021, as the record date for stockholders eligible to vote on the merger with FF Intelligent Mobility Global Holdings Ltd. This definitive agreement aims to make FF a publicly listed company. A proxy statement will be mailed to stockholders, detailing the meeting's date, time, and location. FF, founded in 2014 and headquartered in Los Angeles, focuses on creating a shared intelligent mobility ecosystem, with the FF 91 vehicle envisioned as a transformative transportation solution.
Faraday Future has launched the FF Futurist Experience in New York City, allowing the public to view the cutting-edge FF 91 electric vehicle. The event marks the first opportunity for New Yorkers to experience the brand's advanced technology and luxury electric vehicle lineup. Located at 5 East 59th Street, the venue is designed to showcase FF's innovative mobility solutions and redefine the electric vehicle landscape.
Faraday Future (FF) announced its participation in several investor events, including the Deutsche Bank EV Startups Virtual Bus Tour on March 4, 2021, Baird Vehicle Technology and Mobility Conference on March 10, and Cowen Mobility Disruption Conference on March 12. FF, established in May 2014, focuses on creating an intelligent mobility ecosystem. The company is offering reservations for its FF 91 vehicle, which emphasizes clean energy and AI technology. Property Solutions Acquisition Corp. (PSAC), traded under the ticker PSAC, anticipates a merger with FF and will file relevant documents with the SEC for the proposed transaction.
Faraday Future (FF) has expanded its strategic Advisory Board, adding John Chiang, Ian Rogoff, and Margaret "Peggy" Taylor. The board now consists of six leaders who will provide guidance on fundraising, publicity, and product planning. CEO Carsten Breitfeld emphasized the importance of external perspectives and experience in advancing FF's goals. The company is also preparing to merge with Property Solutions Acquisition Corp. (PSAC), with the merger expected to close in Q2 2021 and facilitate the launch of FF 91, an innovative electric vehicle featuring advanced technology and performance.
Faraday Future has entered a framework cooperation agreement with Geely Holding Group, focusing on technology, engineering support, and potential OEM production services through Geely's joint venture with Foxconn. Geely will also invest as a minority shareholder in Faraday Future amid its ongoing business combination with Property Solutions Acquisition Corp (NASDAQ: PSAC). This deal is contingent upon customary terms and conditions, including the successful completion of the business combination.
Faraday Future and Property Solutions Acquisition Corp. (PSAC) have announced a definitive agreement for a business combination, with the combined entity listed under the ticker symbol 'FFIE'. The deal is valued at approximately $3.4 billion and aims to provide $1.0 billion in gross proceeds for FF's production and delivery of the FF 91 electric vehicle. The PIPE includes over 30 institutional investors, including a top Chinese OEM, ensuring a strong financial backing. FF's innovative technology and strategic partnerships position the company for significant growth in the EV market, particularly in the U.S. and China.
