FaZe Clan, the gaming-centered esports group that has grown from sponsoring professional Call of Duty teams to a full-on entertainment company, will be going public on the stock market following a merger.
The merger, which will combine FaZe Clan Inc. with B. Riley Principal 150 Merger Corp., will result in a transaction valued at “approximately $1 billion” according to FaZe Clan’s site. Once the merger is completed, B. Riley Principal 150 Merger Corp will change its name to FaZe Holdings Inc. and be listed on the NASDAQ as FAZE.
Upon completion of the proposed Business Combination, $BRPM will change its name to “FaZe Holdings Inc.” The combined company’s common stock is expected to be listed on NASDAQ under the new ticker symbol “FAZE.”#FaZeUp | https://t.co/HaHJtFIglW pic.twitter.com/kYW8zurn6j
— FaZe Clan (@FaZeClan) October 25, 2021
“We are thrilled to announce this important milestone of FaZe Clan’s plans to enter the public market,” said Lee Trink, the group’s CEO. “We believe FaZe clan is becoming the voice of youth culture, a brand that sits at the nexus of content, gaming, entertainment and lifestyle in the digital-native world.”
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Source: Game Spot Mashup