The esports organization is soon to go public on the NASDAQ stock exchange, so the shareholders on July 15th approved the merger between FaZe Clan and B Riley Principal 150 Merger Corp.
The Esports Organization is now doing business with the Special Purpose Acquisition Company. Eben Novy-Williams of Sportico reports that the agreement between B. Riley and the FaZe Clan are valued at $987 million USD, and their new company, FaZe Holdings Inc., will trade under the tickers “FAZE” and “FAZEW.” The initial announcement does imply that 68 percent of the company will be owned by the shareholders of FaZe Clan.
Enthusiast Gaming, OverActive Media, and Astralis are now joined by FaZe Clan as Esports-related companies that have been made publicly available on the stock market. FaZe Clan is renowned for its gaming- and other Esports-focused lifestyle and digital media platforms.
They currently have squads playing Call of Duty, Fortnite, and Counter-Strike: Global Offensive. They have more than 500 million followers on social media platforms around the world, are connected to dozens of different twitch streamers, and are well-known for their clothing line.
The PGL Antwerp 2022 major was where FaZe Clan most recently won their first CS:GO major championship after defeating Natus Vincere in the Grand Finals. Along with several other well-known individuals, including NFL star Kyler “FaZe K1” Murray, Lebron “FaZe Bronny” James Jr., and Lil Yachty aka “FaZe Boat,” popular hip hop artist and fan of electric lettuce Snoop Dogg has joined the Board of Directors at FaZe Clan.
