Property Solutions Acquisition set a June 4 meeting date for shareholder to vote on the proposed merger with EV startup FF Intelligent Mobility Global Holdings. The combined company would have a $1 billion valuation.
Announced in January, terms call for the company to receive $230 million in cash held by Property Solutions in trust, assuming no redemptions, and an upsized, $775 million fully-committed common stock PIPE at $10 per share.
If shareholders approve the deal, after closing the combined company would list on the Nasdaq under FFIE. Read more.
