| FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
| 2. Date of Event Requiring Statement (Month/Day/Year) 07/21/2020 | 3. Issuer Name and Ticker or Trading Symbol Property Solutions Acquisition Corp. [ PSACU ] | |||||||||||||
| 4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
| 5. If Amendment, Date of Original Filed (Month/Day/Year) | ||||||||||||||
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock(1)(2) | 6,185,000 | I | By Property Solutions Acquisition Sponsor LLC(3) |
| Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Warrant(1) | (4) | (5) | Common Stock | 435,000 | (6) | I | By Property Solutions Acquisition Sponsor LLC(3) |
1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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1. Name and Address of Reporting Person*
(Street)
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| Explanation of Responses: |
| 1. Includes securities underlying 435,000 units which, prior to the effective date of the registration statement relating to the Issuer's initial public offering, Property Solutions Acquisition Sponsor, LLC (the "Sponsor") irrevocably committed to purchase. Each unit consists of one share of common stock and one warrant entitling the holder to purchase one share of common stock. The purchase of these units is being made on a private placement basis and will be consummated simultaneously with the consummation of the Issuer's initial public offering. Does not include securities underlying up to 48,785 additional units which the Sponsor irrevocably committed to purchase in the event the underwriters in the Issuer's initial public offering exercise their overallotment option in full. |
| 2. Includes up to 750,000 shares of common stock that may be forfeited if the underwriters in the Issuer's initial public offering do not exercise the overallotment option in full. |
| 3. The shares and warrants underlying the units are owned directly by the Sponsor, of which Jordan Vogel and Aaron Feldman are managing members. Messrs. Vogel and Feldman disclaim beneficial ownership of the securities held by the Sponsor except to the extent of their pecuniary interests therein. |
| 4. Each warrant will become exercisable on the later of 30 days after the completion of the Issuer's initial business combination or July ___, 2021. |
| 5. Each warrant will expire five years after the completion of the Issuer's initial business combination. |
| 6. Each warrant entitles the holder to purchase one share of common stock at a price of $11.50 per share, subject to adjustment in the event of certain capital-raising or reorganization transactions. |
| Remarks: |
| /s/ Jordan Vogel | 07/21/2020 | |
| /s/ W. Aaron Feldman | 07/21/2020 | |
| Property Solutions Acquisition Sponsor, LLC, by Jordan Vogel, Managing Member | 07/21/2020 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||
