PSAC announced that the general meeting of shareholders approved the merger with FF, and it landed on NASDAQ on July 22


Tencent technology news on July 21, property solutions acquisition Corp. (“PSAC”) (NASDAQ Stock Code: PSAC) announced today the results of 10 proposals deliberated and voted by its shareholders at the special meeting held on July 20, 2021. According to the voting report, all proposals related to the proposed merger between PSAC and Faraday future (“FF”) announced earlier were supported by PSAC shareholders at the special meeting. A form 8-K disclosing the full voting results has been filed with the sec.
In addition, the deadline for redemption by the shareholders of property solutions acquisition Corp (“PSAC”) has passed, and 99.91% of the funds will remain in the trust account of property solutions acquisition Corp (“PSAC”) upon the completion of the proposed business combination of PSAC and FF. As a result, FF expects to receive about $1 billion when the business combination is completed.
The business combination is expected to be completed before and after July 21, 2021. After the business merger, PSAC will be renamed “Faraday future intelligent electric Inc.” with ffie, I for intelligent and Internet, e for ecosystem and electric. Its common shares and warrants are expected to start trading on the Nasdaq stock exchange around July 22, 2021, with the stock codes of “ffie” and “ffie. WS” respectively.