The merger between FaZe Clan and B. Riley Principal 150 Merger Corp was approved by the shareholders on July 15 as the esports organization is set to soon go public on the NASDAQ stock exchange.
The Special Purpose Acquisition Company has now engaged its business with the Esports Organization. According to Sportico reporter Eben Novy-Williams, the deal between B. Riley and FaZe Clan is worth $987 million USD. Dubbed as ‘FaZe Holdings Inc.; it will use the new ticker, ‘FAZE’ and ‘FAZEW’. The initial announcement does suggest that the shareholders in FaZe Clan will own a total of 68% of the company.