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      Property Solutions Acquisition (PSAC) stock Confirm Pending Merger In EV Space. Here’s What happened - Stocks Telegraph

      By ST Staff

      Published on

      April 7, 2021

      3:57 AM UTC

      Last Updated on

      August 2, 2021

      4:34 AM UTC

      Property Solutions Acquisition (PSAC) stock Confirm Pending Merger In EV Space. Here’s What happened - Stocks Telegraph

      Property Solutions Acquisition (PSAC) peaked investor interest after confirmation of filing essential documents with the U.S. Securities and Exchange Commission (SEC)in regards to the PSAC merger in the electric-vehicle (EV) community.

      PSAC stock price increased by more than 10% as it notified its aim to merge with Farraday Future, a distinguished company specializing in Electric vehicles, in late January. Hence the SPAC price increased up to $20 per stock, which is approximately double compared to its price in the beginning of2021. However, the share price plunged $12 per PSAC share by early March, as investor interest for SPACs, in general, decreased, even though the agreement was still on.

      Could The Property Solutions Acquisition Corp. (NASDAQ: PSAC) Ownership Structure Be Significant For Company Valuation?

      With a market capitalization of US$366m, Property Solutions Acquisition does consist of institutional investors, with LLC owning 18% of shares outstanding, however, no single shareholder has significant control over the company as, the second-largest shareholder owns a tiny proportion of 4% with the third-largest shareholder owning 3.4% respectively.

      43% of the company is owned by the general public which can still make a collective impact on company policies, even though ownership may not be adequate to overturn a decision in their favor.

      Private Companies own 18%, of the Property Solutions Acquisition shares, depicting that the company has credibility among institutional investors, however still considers general public ownership to be of most significance.

      Conclusion

      PSAC offered a better-than-expected outlook for the current quarter, and are anticipated to produce a decent profit as their stock price surged 10% after announcing their merger with Faraday future, a renowned company in the lucrative Electric-vehicle market. Furthermore, SPAC price per share reaching an all-time high of $20, and diversification into the EV industry has further peaked investor interest.

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