Item 7.01 Regulation FD Disclosure.
On April 7, 2021, Carsten Breitfeld, the Chief Executive
Officer of FF Intelligent Mobility Global Holdings, Ltd. (“FF”), Zvi Glassman, Chief Financial Officer of FF, Prashant Gulati,
Global Partner and Head of Strategy at FF, and Aaron Feldman, Co-Chief Executive Officer of Property Solutions Acquisition Corp. (“PSAC”)
participated in an online interview. A transcript of the interview is being furnished herewith as Exhibit 99.1.
The information contained in this Current Report on
Form 8-K pursuant to this Item 7.01, including the exhibit attached hereto, is intended to be furnished and shall not be deemed “filed”
for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.
Important Information and Where to Find It
This Report relates to a proposed
transaction between PSAC and FF. PSAC has filed with the Securities and Exchange Commission (“SEC”) a registration
statement on Form S-4 that includes a proxy statement and prospectus of PSAC and a consent solicitation statement with respect to FF.
The proxy statement/consent solicitation statement/prospectus will be mailed to stockholders of PSAC as of a record date to be established
for voting on the proposed business combination. PSAC also has filed other relevant documents from time to time regarding the proposed
transaction with the SEC. INVESTORS AND SECURITY HOLDERS OF PSAC ARE URGED TO READ THE PROXY STATEMENT, PROSPECTUS AND OTHER RELEVANT
DOCUMENTS THAT WILL BE FILED BY PSAC FROM TIME TO TIME WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders are able to obtain free copies
of the proxy statement/consent solicitation statement/prospectus and other documents containing important information about PSAC and FF
through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by PSAC when and if available,
can also be obtained free of charge by directing a written request to Property Solutions Acquisition Corp., 654
Madison Avenue, Suite 1009, New York, New York 10065.
Participants in the Solicitation
PSAC and FF and their respective
directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of PSAC’s stockholders
in connection with the proposed transaction. Investors and security holders may obtain more detailed information regarding the names and
interests in the proposed transaction of PSAC’s directors and officers in PSAC’s filings with the SEC, including PSAC’s
Annual Report on Form 10-K for the period ended December 31, 2020, which was filed with the SEC on March 31, 2021. Information regarding
the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to PSAC’s stockholders in connection
with the proposed business combination are set forth in the proxy statement/consent solicitation statement/prospectus for the proposed
business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in
connection with the proposed business combination are included in the proxy statement/consent solicitation statement/prospectus that PSAC
has filed with the SEC.
No Offer or Solicitation
This communication shall neither
constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction
in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any
such jurisdiction.
Forward Looking Statements
This Report includes “forward looking
statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform
Act of 1995. When used in this Report, the words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,”
“should,” “future,” “propose” and variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees
of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside PSAC’s or FF’s management’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results
or outcomes include: the inability to complete the transactions contemplated by the proposed business combination; the inability to recognize
the anticipated benefits of the proposed business combination, which may be affected by, among other things, the amount of cash available
following any redemptions by PSAC stockholders; the ability to meet the Nasdaq’s listing standards following the consummation of
the transactions contemplated by the proposed business combination; costs related to the proposed business combination; FF’s ability
to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size
of the markets for its vehicles; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers;
the performance and security of FF’s vehicles; potential litigation involving PSAC or FF; the result of future financing efforts
and general economic and market conditions impacting demand for FF’s products. Other factors include the possibility that the proposed
transaction does not close, including due to the failure to receive required security holder approvals, or the failure of other closing
conditions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of the registration statement on Form S-4 and proxy statement/consent
solicitation statement/prospectus discussed above and other documents filed by PSAC from time to time with the SEC. These filings identify
and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and neither PSAC nor FF undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as required by law.