Faraday Future (FFIE) planning to gain $1 billion gross proceeds from merging and goes public: What you should know?

Faraday Future stock was around $13.78 on July 21 with the pre-market of $18.02 which might seems not very attractive. However, the stock is awaited to rise by approximately 13.78% with the additional growth of pre-market for 25.40%.

Faraday Future reported that the merger with the Property Solution Acquisition was approved by the shareholders of the company. With the help of the merger, the company is aiming to gain more than $1 billion of gross proceeds and rename it Intelligent Electric. Also, the company announced that it will be traded on the Nasdaq under the FFIE name.

Faraday Future is one of the start-up technologies companies and currently focuses on the production of electric vehicles. The company was founded in 2014 and is based in Los Angeles, United States. The company has offices not only in the U.S but also in such cities as Beijing, Shanghai, and Chengdu.

Trevor Omaha

Since 2009 Trevor has been eager to know the causes of financial crises. Right now he is actively searching for the next crisis which will decide the fate of the middle class in the Americas and Europe. We wish him good luck in his research.

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