FaZe Clan Scripts a New Chapter In Its Highly Decorated 12-Year History

Published 06/23/2022, 8:30 AM EDT

Growth is essential for any organization to stay relevant, and FaZe Clan has reached an applaudable point in this sphere. According to a recent update from the popular clan, the SEC has accepted a request for a merger that will make FaZe eligible for public trades.

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FaZe Clan is a popular Esports and entertainment organization, currently endorsed by millions of fans around the world. It’s been twelve years since FaZe was born, first as a YouTube channel of the name ‘FaZe Sniping’. In fact, the channel was created to showcase COD sniping skills of founders, CLipZ, Timid, and Resistance.

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One of FaZe’s popular content creators, Blaze, took to Twitter to share the notable development of what was once just a ‘small sniping clan on YouTube’. Moreover, the official Twitter account of Faze shared a professional statement regarding the matter.

FaZe Clan receives SEC’s approval for the much-awaited merger

According to the official statement from FaZe, B. Riley Principal 150 Merger Corp, a special-purpose acquisition company, has announced that a request for a business combination between them and FaZe has been approved by the SEC (Securities and Exchange Commission).

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Following this, FaZe is now all set to become a publicly-traded company.

For the unaware, a publicly-traded company is an organization whose ownership is distributed among the public in terms of shares. According to Blaze, after the merger goes through, FaZe will be traded on the New York Stock Exchange under the ticker ‘FAZE’.

It’s, in no doubt, a huge feat for FaZe as being eligible for public trades will bring more financial prosperity and subsequent growth of the brand.

“FaZe is on the verge of becoming a publicly-traded company. The capital from the Business Combination will help us to continue to grow our brand as a leader in esports and the creator economy, and embrace the advent of new digital goods and platforms,” FaZe Clan’s CEO, Lee Trink, said.

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In fact, FaZe had announced the merger with B. Riley Principal 150 Merger Corp back in October 2021 through a press release. However, they needed a nod from the SEC, to begin with.

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Following this merger, FaZe will be one of the first gaming organizations to receive a public trade clearance. This is not only an achievement for FaZe, but also for the entire gaming community. As the years pass, many expect the Esports and Gaming industry to receive more of such notable recognition in the professional world.

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Sharmila Ganguly

161 articles

Sharmila Ganguly is an ESports author at EssentiallySports. After completing her bachelor's degree in engineering, she pursued her love for writing and most importantly, video games. All kinds of video games intrigue her, but her love for shooter video games like Valorant knows no bounds. Apart from video games, she also likes to keep a tab on the world of technology and spend time with her pet parrots!

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