PSAC - Property Solutions Acquisition gets minimal redemptions in Faraday Future deal

Global shared intelligent mobility ecosystem company Faraday Future ((FF)), which is in the process of completing its previously announced business combination with Property Solutions Acquisition (PSACU), has announced that the deadline for electing redemptions in connection with the deal has passed and that 99.91% of the funds will remain in PSACU's trust account as of the closing of transaction.The deal is expected to close on July 21, 2021 and provide ~$1B in gross proceeds.Following the closing, the combined company will be publicly listed on the Nasdaq Stock Market under the ticker symbol "FFIE."Faraday Future will ring the opening bell at Nasdaq.

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Property Solutions Acquisition gets minimal redemptions in Faraday Future deal