powerwalker
3 years ago
'Dog, can you help me out.
Per reports, the FMV of this transaction is $3.4B. If PSAC s/h will have 6.8% of the stock after merger's completion, then the value of its stake is $231M (6.8% x $3.4B) and with 29+M shares o/s, the worth of the shares should be in the range of $8.
Why then is the SP now in the $21 range, pre-merger? Are the redemption shares part of this anomaly?
TIA for your thoughts.
barnyarddog
3 years ago
Price History
Date
Open Day Low Day High Close Volume
1/29/2021 20.31 17.07 20.65 18.45... 14,706,357
1/28/2021 15.99 14.50 17.50 15.43... 15,979,496
1/27/2021 13.75 12.53 14.99 13.00 ...4,484,763
1/26/2021 12.81 12.31 13.35 13.23... 5,243,233
1/25/2021 11.44 11.30 11.52 11.42 ...1,992,953
barnyarddog
3 years ago
Faraday Future and Geely Holding Group Sign a Cooperation Agreement
8:10 PM ET 1/28/21 | BusinessWire
LOS ANGELES--(BUSINESS WIRE)--January 28, 2021--
Faraday Future, a global shared intelligent mobility ecosystem company and China's largest privately owned automotive group, Zhejiang Geely Holding Group, have jointly signed a framework cooperation agreement. The two sides will cooperate in technology and engineering support, and will explore the possibility of using OEM production services provided by the joint venture between Foxconn and Geely.
At the same time, Geely Holding Group has also signed a subscription agreement to become a minority investor in Faraday Future in connection with the previously announced business combination between Faraday Future and Property Solutions Acquisition Corp. (NASDAQ: PSAC), which remains subject to customary terms and conditions including the consummation of such business combination.
Users can reserve an FF 91 now at: https://www.ff.com/us/reserve
ABOUT FARADAY FUTURE
Established in May 2014, Faraday Future (FF) is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. FF's vision is to create a shared intelligent mobility ecosystem that empowers everyone to move, connect, breathe, and live freely. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the FF 91, FF has envisioned a vehicle that redefines transportation, mobility, and connectivity, creating a true "third Internet living space," complementing users' home and smartphone Internet experience.