Monday, October 25, 2021

FaZe Clan To Go Public Via SPAC

Los Angeles-based e-sports brand FaZe Clan said this morning that it is in the midst of becoming publicly listed, via a merger with a Special Purpose Acquisition Company (SPAC). According to the company, it expects to list on the NASDAQ, via a merger with B. Riley Principal 150 Merger Corp., which is currently listed on the NASDAQ as BRPM. FaZe Clan says it expects to receive proceeds of approximately $291 million (including an estimated $118 million in PIPE proceeds) after the effort. The company said it will use the funding to fund its growth strategy in the content, gaming, entertainment, and consumer products areas, including potential acquisitions.