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EV startup Faraday in talks to go public via merger, report says

January 11, 2021

Faraday & Future Inc., an electric-vehicle startup, is in talks to go public through a merger with Property Solutions Acquisition Corp., a special-purpose acquisition company, according to people with knowledge with the matter.

The special purpose acquisition company is seeking to raise more than $400 million in equity to support the transaction, which is slated to value the combined entity at around $3 billion, the people said. As with all deals that haven’t been finalized, it’s possible that terms change or talks fall apart.

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