Local time on January 28th, Jia Yue Ting’s Faraday Future, referred to as “FF”) submitted IPO (First Open Prospectus) Listing Application Document.
It is reported that FF will log in to NASDAC through a Special Purpose M & A (SPAC), which will be merged with a company named Property Solutions Acquisition Corp.. The two parties are expected to complete the merger in the second quarter of 2021, and the merger is estimated to be about 3 billion US dollars, and the Nasdaq listing stock code is “FRIE” (FREDAY FUTURE Intelligent EcoSystem).
SPAC is a US stock market, which is a way to be listed. It is different from the domestic A-share market. This way in the US stock market is that the investors will set up a place without practical. The special purpose company of the business is “she shells”. This company has only cash without industrial assets, and in a certain period of time by mergers and acquisitions non-listed companies to implement injection business and value value.
It is understood that in 2020, there were 248 spac IPOs in the United States, and the number of US stocks SPAC IPOs in the past decade had no more than 20 cases. Before Goldman Sachs, CEO Lloyd Blankfein, a warning of SPAC listed models, warn investors, need to be cautious about this, because the SPAC process widespread the strict due diligence of normal IPO processes.
In any case, all roads around FF are coming to: Recently, Geely announced on official WeChat, the Group FF signed a framework cooperation agreement, planning in technology and engineering Cooperation and discuss the possibility of providing efforts by Jilly and Foxconn joint venture. In addition, as a financial investor, Geely Holdings Group also participated in a small amount of investment in FF SPAC.
▲ Geely Group WeChat official announcement
In addition to the Geely Gossip, FF seems to have supported the support of domestic governments and enterprises. Recently, there are newsIn the latest round of financing of FF, Zhuhai City state-owned investment has invested 2 billion yuan, and the investor included Gree Group and Huafa Group.
In December 2020, Fah (Zhuhai) Co., Ltd. was established, with a registered capital of $ 250 million, completely shares by FF Hong Kong Holding Limited. 
FF is founded in 2014 by everyone, and the latter has applied for bankruptcy in October 2019, and plans to hand over its own shares to give about 20 $ 100 million personal debt.
At the same time, Jia Yue Ting himself no longer has FF equity, and the company’s daily management is delivered to the Carsten Breitfeld, the latter once is the joint founding of the electric vehicle enterprise in China. people. At present, Jia Yueping still serves as the Chief Products and Ecosystem of FF.