On April 5th, according to the US time zone, PSAC (Property Solutions Acquisition Corp.), which is about to complete the reverse acquisition and listing with Faraday Future, officially submitted the S-4 listing document to the US Securities and Exchange Commission (SEC). This means that the merged entity FFIE will be listed on Nasdaq within 4 to 6 weeks, which is consistent with the previously announced Q2 2021 listing plan.
Currently, the PSAC stock price is $12.39, corresponding to a market value of $366 million. According to Faraday Future’s roadshow information, PSAC holds 6.9% of the equity. Through simple calculations, the current stock price corresponds to a post-merger valuation of $5.3 billion, which is much lower than the tens of billions of valuations of other new forces.
🔗Information source: US Securities and Exchange Commission
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