Share with friends and circle of friends with wechat scan QR code < / P > < p > < p > Faraday future announced today that the two sides have reached a final agreement on business merger. After the merger, it will be listed on the Nasdaq stock exchange with the stock code of "ffie".

common stock < / a > pipe includes more than 30 parent institutional shareholders from the United States, Europe and China. Pipe cornerstone investors include China's top three private automobile main engine plants and long-term institutional investors. The merger will provide about $1 billion for Faraday future, including $230 million in cash held in trust by PSAC (assuming non Redemption) and $775 million in fully committed common share pipe oversubscribed at $10.00 per share. To finance the mass production and delivery of FF 91. < / P > < p > FF said that one of China's top three main engine plants and partners in China's key cities will help FF quickly achieve its landing in the Chinese market. Earlier, some media reported that Geely and Zhuhai state-owned assets will invest in FF. < / P > < p > Dr. Bi Fukang, Global CEO of Faraday future, said, "we are very pleased to be able to work with PSAC. This is an important milestone for our company, which has been successfully achieved with the firm commitment of our employees, suppliers, partners in the United States and China, and Hanford, California. I am very happy that this business combination will enable us to launch FF 91, which can redefine luxury electric vehicles. This is also based on the original intention of our founders to help our users and shareholders participate in shaping an innovative future travel ecosystem. "< / P > < p >" Faraday future is a unique and distinctive electric vehicle company, and its future development prospects are very promising. " Jordan Vogel, CO CEO and chairman of property solutions, said. "We believe that the excellent management team led by Dr. Bi Fukang and the industry-leading technology will enable Faraday future to achieve its real growth potential. "< / P > < p > FF has invested more than US $2 billion since its establishment. In addition to the research and development of the first model FF 91, the product definition of the second model FF 81 has been completed, and the research and development work is also actively promoting. < / P > < p > FF has established a powerful, subversive and valuable technology portfolio, with its variable electric drive chassis architecture ("VPA"), three electric systems and advanced I. < a target = "_ blank" href=" https://news.163.com/news/search?keyword=A.I "> A.I < / a > technology has about 900 applications or authorized patents worldwide. According to the report of Randolph square IP ("RSIP"), a patent data analysis company, FF's similar patent portfolio far exceeds that of traditional car companies. FF proprietary VPA platform is a skateboard type, modular intelligent vehicle development platform, which can be adjusted according to different motor and power system configuration. This flexible modular design can support a range of passenger and commercial vehicles, which is conducive to the rapid development of a variety of automotive projects to reduce costs and time to market. FF's three electric system has industry-leading inverter design, battery pack energy density and gravity power density. 1. A.I. technology provides vehicles with an open ecosystem of high-performance computing, high-speed Internet connection, over the air update and integration of third-party applications. In addition, there are other patent innovations that enable FF to create advanced and highly personalized experience for users. < / P > < p > "becoming a public company is an important milestone for Faraday future, which will provide FF with the opportunity to further obtain funds through the open market over time," added Aaron Feldman, CO CEO of property solutions. "We are very happy to share this compelling story with you and are confident that Faraday future will bring great value to shareholders in the next few years. "< / P > < p > Bob Mancini, RMG's representative, said:" RMG is pleased to advise PSAC on this transaction and help promote the business combination of PSAC and FF. ". < / P > < p > in the next five years, FF's B2C passenger car planning will include FF 91 series, FF 81 series and FF 71 series. FF 81 is expected to be launched in mass production in 2023, and FF 71 is expected to be launched in mass production at the end of 2024. In addition to passenger cars, FF plans to launch the last mile intelligent transport vehicle (slmd) in 2023 using its proprietary VPA platform. < / P > < p > FF adopts a global manufacturing layout and a hybrid manufacturing strategy of light assets, including its manufacturing plant in Hanford, California, and its OEM cooperation with a leading South Korean partner in manufacturing. The company is looking for OEM production in China through joint venture. < p > < p > FF is expected to sell more than 400000 vehicles in the next five years, and its first flagship model FF 91 has received more than 14000 orders. Users can now book FF 91. < / P > < p > < b > transaction overview < / b > < / P > < p > according to the current estimation, at the subscription price of US $10.00 per pipe, the transaction shows the implied < a target = "_ blank" href=" https://news.163.com/news/search?keyword=%E8%82%A1%E6%9D%83 "> equity < / a > is worth $3.4 billion. The deal is supported by major suppliers, many of which will become shareholders. After the completion of the transaction, assuming that the shareholders of PSAC do not redeem, the combined company will receive up to $1 billion in cash. < / P > < p > the boards of FF and PSAC have unanimously approved the proposed business merger, which is expected to be completed in the second quarter of 2021. The progress of the merger will depend on the approval of the PSAC shareholders, the fulfillment of the conditions set forth in the final agreement and other customary closing conditions, including the entry into force of the registration statement announced by the securities and Exchange Commission (SEC), the approval of the relevant regulatory authorities, and the approval of the listing of the merged company's securities on the Nasdaq stock market. < / P > < p > after the completion of the transaction, Jordan Vogel of property solutions acquisition Corp. and Philip kassin of RMG will serve on the board of directors of Faraday future. < / P > < p > < b > advisory body < / b > < / P > < p > < p > Credit Suisse and stifel acted as financial and capital markets advisers, and Miller buckfire acted as financial adviser to FF. RMG and Deutsche Bank are financial advisers to PSAC. Credit Suisse will act as the lead placement agent, and stifel will also act as the pipe placement agent. Sidley Austin LLP and O'Melveny & Myers acted as legal advisers to FF. Latham & Watkins is the legal adviser to PSAC. EarlyBird Capital担任PSAC IPO的独家?
2023-03-22 10:04:26