Latham & Watkins Advises Property Solutions Acquisition Corp. SPAC in Merger with Faraday Future to Create a Combined Company with a Value in Excess of US$3.3 Billion

Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company that makes electric vehicles, and Property Solutions Acquisition Corp. (PSAC) (NASDAQ: PSAC), a special purpose acquisition company (SPAC), have announced a definitive agreement for a business combination. Following the closing, the combined company will be listed on the Nasdaq Stock Market under the ticker symbol “FFIE”.

Latham & Watkins LLP represents PSAC and RMG in the transaction with an M&A deal team led by New York partner David Allinson, with associates Brad Guest, Jennifer Wong, Julia von Türk, Eric Czubiak, and Joshua Payne, and a capital markets deal team led by Houston partner Ryan Maierson, with associates Om Pandya, Paul Robe, Trevor Bossi, and Jacob Weiner. Advice was also provided on tax matters by New York partner Lisa Watts and Washington, D.C. partner Andrea Ramezan-Jackson, with associate Eli McCrain; on employee benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum, with associate Nathaniel Hsieh; on intellectual property matters by New York partner Steven Betensky and Washington, D.C. counsel Kieran Dickinson, with associates Caroline Herald and Mohammad Akhavannik; on environmental matters by New York partner Jean-Philippe Brisson and New York counsel David Langer, with associate Benjamin Einhouse; on Chinese corporate matters by Hong Kong counsel Maurice Conway, with associate Shanshan Xiao; on real estate matters by Chicago partner Robert Buday, with associates Karen Ritter and Dustin Paige; on compliance matters by Washington, D.C. partners Les Carnegie, James Barker, Steven Croley, and Douglas Greenburg, with associates Natalie Rao, Elizabeth Annis, and Cassie Martin; and on restructuring matters by New York partner George Klidonas, with associate Matt Carmody.