esport: FaZe Clan (USA) to list on the New York Stock Exchange (NASDAQ) in 2022

FaZe Clan is to list on the New York Stock Exchange (NASDAQ) under the new ticker symbol “FAZE” following a merger with B. Riley Principal 150 Merger Corp. (BRPM), announced the US esports and entertainment organisation on 25/10/2021. 

"The transaction is expected to close in the first quarter of 2022, subject to regulatory and stockholder approvals. Upon completion, BRPM will change its name to “FaZe Holdings Inc.” The combined company is expected to have an implied equity valuation of approximately $1bn (€860m). Estimated gross transaction proceeds total $291m (€250m), including $173m (€149m) in cash from BRPM," said the esport organisation.

"Faze Clan’s existing shareholders will own 68% of the company. Upon closing, the combined company will be led by FaZe Clan’s CEO, Lee Trink, who will also become chairman of the board," added FaZe Clan.

• "The company produces premium content, merchandise, and consumer products and creates advertising and sponsorship programs for leading national brands. With approximately 80% of its audience between the ages of 13-34, FaZe Clan has unlocked…