Filed by Property Solutions Acquisition Corp.
pursuant to Rule 425 under
the Securities Act of 1933, as
amended, and deemed filed
pursuant to Rule 14a-12
under the Securities Exchange
Act of 1934, as amended
Subject Company:
Property Solutions Acquisition
Corp. (SEC File No.: 001-39395)
Date: July 15, 2021
Property
Solutions Acquisition Corp. Reminds Stockholders to Vote in Favor of Business Combination with FF Intelligent Mobility Global Holdings
Ltd.
New
York - (July 15, 2021) - Property Solutions Acquisition Corp. (“PSAC”), a publicly-traded
special purpose acquisition company, reminds its stockholders to vote in favor of the previously announced business combination (the
“Business Combination”) with FF Intelligent Mobility Global Holdings Ltd. (Faraday Future).
Stockholders
who owned common stock of PSAC as of the close of business on June 21, 2021 (the “Record Date”), may vote their shares. Stockholders
as of the Record Date have the right to vote, regardless of whether such stockholders subsequently sold their shares and do not own such
shares as of the date they cast their vote.
The special meeting
to approve the pending Business Combination (the “Special Meeting”) is scheduled to be held on July 20, 2021 at 11:00 a.m.
Eastern Time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at https://www.cstproxy.com/propertysolutionsacquisition/sm2021.
Additional
information on how stockholders of record may vote their shares can be found at vote.ff.com.
Every
stockholder’s vote is important! Accordingly, all PSAC stockholders who held shares as of the Record Date who have not yet
voted are encouraged to do so as soon as possible and by no later than 11:59 p.m., Eastern Time on July 19, 2021. PSAC stockholders who
owned shares as of the Record Date and subsequently sold all or a portion of their shares are STILL entitled to vote, and are encouraged
to do so. PSAC’s board of directors recommends you vote “FOR” the Business Combination with Faraday Future and “FOR”
all of the related proposals described in the definitive proxy statement on Schedule 14A (the “Proxy Statement”).
These
are the two easiest and fastest ways to vote – and they are both free:
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Vote
Online (Highly Recommended): Follow the instructions provided by your broker,
bank or other nominee on the voting instruction form mailed (or e-mailed) to you. To vote
online, you will need your voting control number, which you can find on your Voting Instruction
Form. Votes submitted electronically over the Internet must be received by 11:59 p.m., Eastern
Time, on July 19, 2021.
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·
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Vote by Telephone: Follow the instructions provided
by your broker, bank or other nominee on the Voting Instruction Form mailed (or e-mailed) to you. To vote via the automated telephone
service, you will need your voting control number, which you can find on your Voting Instruction Form. Votes submitted over the telephone
must be received by 11:59 p.m., Eastern Time, on July 19, 2021.
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Additionally,
you can vote by mail:
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Vote by Mail: Follow the instructions provided
by your broker, bank or other nominee on the Voting Instruction Form mailed to you. Please be sure to (1) mark, sign and date your
Voting Instruction Form, (2) fold and return your Voting Instruction Form in the postage-paid envelope provided, and (3) mail your
Voting Instruction Form to ensure receipt on or before 11:59 p.m., Eastern Time, on July 19, 2021.
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YOUR
CONTROL NUMBER IS FOUND ON YOUR VOTING INSTRUCTION FORM. If you misplaced or did not receive your Voting Instruction Form, contact
your bank, broker or other nominee to obtain your control number in order to vote. A bank, broker or other nominee is a person or firm
that acts as an intermediary between an investor and the stock exchange who can help you vote your shares.
Holders of PSAC
shares who need assistance voting or have questions regarding the Special Meeting may contact PSAC’s proxy solicitor, Morrow Sodali,
toll-free at US: 1-(800)-252-1959, International: 1-(289)-695-3075, or send an email to PSAC.info@investor.morrowsodali.com. Banks
and brokers may call 1-(203)-658-9400.
ABOUT
FARADAY FUTURE
Established
in May 2014, 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.
FOLLOW
FARADAY FUTURE:
https://www.ff.com/
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
ABOUT
PROPERTY SOLUTIONS ACQUISITION CORP.
Property
Solutions Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or
similar business combination with one or more differentiated businesses. The company is managed by Co-CEOs Jordan Vogel and Aaron Feldman.
Property
Solutions I is a $230 million SPAC formed in July 2020 and is traded on the Nasdaq under the ticker symbol “PSAC”.
IMPORTANT
INFORMATION AND WHERE TO FIND IT
This press release
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 has been mailed to stockholders of PSAC as of the June 21,
2021 record date established for voting on the proposed business combination. 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
may obtain free copies of the proxy statement/consent solicitation statement/prospectus and other documents containing important information
about PSAC and FF 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 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 is set forth in the proxy statement/consent solicitation
statement/prospectus for the proposed business combination. 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
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
press release 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 press release, 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.
Contacts
For Faraday Future
Investors: ir@faradayfuture.com
Media: media@faradayfuture.com
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