Iconic Esports Organization FaZe Clan to Go Public With Listing on NASDAQ Following $1 Billion Merger
Follow Us
Esports has massively grown over the years. After starting out as a niche industry, gaming has allowed Esports to become one of the more popular ventures in the world right now. Organizations like Cloud 9, Luminosity, 100 Thieves, TSM and many more have now become household names. However, FaZe Clan reigns supreme over all of them, and the company’s latest plans prove just that.
On Monday, FaZe Clan announced its plans to go public with a listing on NASDAQ. The listing will only happen after its multi million dollar merger with B. Riley Principal 150 Merger Corp. The company has also mentioned that the deal will go through in early 2022, making it one of the landmark mergers of the industry.
For you, the fans.
Our biggest announcement to date: FaZe Clan is going to become a publicly traded company. https://t.co/HaHJtFIglW pic.twitter.com/YNYLpvVIRo
— FaZe Clan (@FaZeClan) October 25, 2021
ADVERTISEMENT
Article continues below this ad
FaZe Clan to have a listing on NASDAQ next year
The announcement from FaZe Clan came yesterday with a blog post detailing the merger. It states that the deal with B. Riley Principal 150 Merger Corp will allow FaZe to receive around $291 million. This include a private placement in public equity (PIPE) of $118 million. Following the merger, the new company, FaZe Holdings Inc will have a valuation of around $1 billion.
Upon finalization of this deal, FaZe Holdings Inc will have a listing on the NASDAQ under the new ticket symbol “FAZE”. With the $291 million cash injection from the merger, the company can fund many of its future ventures. This includes funding for many of its arms like content, gaming, entertainment, consumer products and many more.
Trending
Worried Coaches Denied Simone Biles’ Paris Olympics Appeal After Twisties Trauma
April 19, 2024 02:30 PM EDT
‘Thought Charlie Was the Real Deal’: Tiger Woods’s Son Taunted by Golf World as Rival Prodigy Steals the Show
April 19, 2024 11:30 AM EDT
“Jamie F**ked Up”- Fans React as Joe Rogan and Tucker Carlson’s JRE Episode Is Deleted in Minutes
April 19, 2024 03:05 PM EDT
Silencing Nike Chaos, Sha’Carri Richardson’s Historic Move With Sprite Puts Her in 96-Year-Old Inner Circle for Olympics
April 18, 2024 10:20 PM EDT
“See It on Camera”: Cody Rhodes Reveals Roman Reigns’ Unscripted Three-Word Line During WrestleMania Match
April 19, 2024 12:09 PM EDT
Get instantly notified of the hottest stories via Google! Click on Follow Us and Tap the Blue Star.
Follow Us
“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.” — @LeeTrink, CEO of @FaZeClan #FaZeUp | https://t.co/y8zl5ALb2w pic.twitter.com/eBznfqe7fr
— FaZe Comms (@FaZeComms) October 25, 2021
ADVERTISEMENT
Article continues below this ad
One of the biggest moves in Esports history
FaZe Clan have come a long way since the organization’s early days of posting Call of Duty clips. The company has championed Esports and gaming in a way that’s unmatched. The organization now has some of the biggest names in the industry like Arizona Cardinals QB Kyler Murray and LeBron “Bronny” James Jr. The announcement also included excerpts from CEO Leo Trink, who doubles down on the impact that FaZe Clan has had on youth culture.
“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.”
ADVERTISEMENT
Article continues below this ad
This deal will be one of the landmark moments in Esports and gaming history. Following this event, people can expect to see more companies foray into Wall Street, and it sure seems like this won’t be the last time fans will hear an announcement from an organization of such stature.
WATCH THIS STORY- Best Role-Playing Games Releasing on PlayStation, Xbox, and PC in September 2021
Written by:
