Faraday Future Goes Wall-Street n Via NASDAQ Estimated $3.4 Billion Valuation
January 28, 2021; Faraday Future (FF) is set to become the latest mobility company to list on the stock market in the U.S. The California-based intelligent mobility ecosystem group, and Property Solutions Acquisition Corp. NASDAQ: PSAC), a special purpose acquisition company (SPAC), have entered into a definitive agreement for a business combination.
The deal values FF at approximately $3.4 billion.
Following the closing, which is expected in Q2, 2021, the combined company will be listed on the Nasdaq under the ticker symbol ‘FFIE’. The transaction will provide $1.0 billion of gross proceeds to the combined company, providing sufficient funds to support the scaled production and delivery of its FF 91 model.