Item 7.01
Regulation FD Disclosure.
On
June 21, 2021, Property Solutions Acquisition Corp., a Delaware corporation (“PSAC”), issued a press release announcing
the record date for the determination of stockholders eligible to receive the proxy and vote at the special meeting to be held to consider
and approve the previously announced merger with FF Intelligent Mobility Global Holdings Ltd. (“FF”) had been revised
to June 21, 2021, from the previously announced date of June 4, 2021. A copy of the press release 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 the record
date. PSAC also will file 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 will be able to obtain free copies of the proxy statement/consent solicitation statement/prospectus
and other documents containing important information about PSAC and FF once such documents are filed with the SEC, 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 fiscal year ended December 31, 2021, 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 will be 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 is included in the proxy statement/consent solicitation
statement/prospectus relating to the proposed business combination.
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.