Property Solutions Acquisition II in a proxy filing wants shareholder approval to complete a deal or liquidate by Dec. 22, shaving almost three months off the current deadline. With no merger prospects in the pipeline, in practical terms, the SPAC is looking to wind up before the end of the year, which would enable it to dodge the 1% excise tax on stock buybacks that goes into effect Jan. 1.
The proptech-focused SPAC raised $300 million in a March 2021 IPO to target technology companies that service the real estate industry. Read more.
