FaZe Clan has announced that they are set to go public on the NASDAQ exchange, after their SPAC merger was “declared effective” by the Securities and Exchange Commission.
With a combined social media reach of almost 400 million fans, FaZe Clan is one of the biggest networks of personalities, content creators, and esports players in the entire world.
In October 2021, FaZe announced the merger agreement with SPAC ‘B. Riley Principal 150 Merger Corp.’ that set them up for the ability to go public on the NASDAQ exchange that will allow fans, or anyone, to invest in the organization.
They have now confirmed that the proposed merger was approved by the Security and Exchange Commission, which brings FaZe closer to being a publicly-traded company.
FaZe is on the verge of going public
On June 22, FaZe posted the announcement on their Twitter page.
“B. Riley Principal 150 Merger Corp, a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc, and Faze Clan Inc, today announced that the registration statement on Form S-4 with respect to the proposed business combination between BRPM and FaZe Clan was declared effective by the Securities and Exchange Commission.”
“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 CEO Lee Trink added.
“We look forward to closing the Business Combination and continuing to partner with the B. Riley team in our journey to the public market.”
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FaZe will be among the first content-creation organizations to become a publicly-traded company, and fans will be able to find it rather easily as their ticker on the exchange is set to be simply: FAZE.
The next step is for shareholders of BRPM to attend a Special Meeting on July 15, where they will be “asked to consider and vote upon proposals to approve the Business Combination and related matters.”