SPAC: Property Solutions Acquisition Corp Securities to Trade on Friday

Property Solutions Acquisition Corp. (NASDAQ: PSACU) has announced that separate trading of its shares of common stock and warrants underlying the Company’s units would commence on August 28, 2020, on the NASDAQ.

Property Solutions Acquisition Corp. is a blank check company seeking to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The company states that it may pursue a business combination opportunity in any business or industry it chooses, although it currently intends to focus on target companies that service the real estate industry, including property technology or Proptech. The company will have until April 24, 2022, to complete a Business Combination.

In July, Property Solutions Acquisition Corp closed on an initial public offering (IPO) raising about $200 million.  An over-allotment option of an additional 2,977,568 Units was exercised by the underwriters generating gross proceeds of over $29.7 million.

Ellenoff Grossman & Schole, LLP acted as counsel to the underwriters.


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