Faraday Future and Property Solutions Acquisition Corp. Announce Closing of Business Combination; Faraday Future to Trade on NASDAQ Under Ticker "FFIE” Beginning on July 22, 2021
“Today is a new chapter in FF’s history, and we are thrilled to be a public company with industry leading technology, unrivaled new products, and a world class experienced team to drive the success of FF for years to come,” said Dr.
“Carsten and the FF management team have demonstrated impressive leadership throughout the business combination process. With the transaction proceeds, we believe FF has the resources to fully fund the production of the class defining FF 91 within 12 months of transaction close,” said former PSAC Co-CEO and Chairman
The business combination will result in gross proceeds of approximately
Users can reserve an FF 91 now at: https://www.ff.com/us/reserve.
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NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
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 FF’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 recognize the anticipated benefits of the business combination, which may be affected by, among other things, costs related to the 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 FF; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. 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 and other documents previously filed by Property Solutions Acquisition Corp. and filed by
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Source: Faraday Future