FaZe Clan is one of the most popular esports organizations in the world thanks to its robust content creation squad, celebrity investors, and the ongoing hijinks and controversies of its owner Richard "Banks" Bengston. But FaZe Clan has also been rumored to not be making as much money as it eludes to.
Now, FaZe Clan is going public on the NASDAQ exchange after a SPAC merger. The merger agreement between FaZe Clan and SPAC B. Riley Principal 150 Merger Corp. was initially announced in October 2021.
The merger has now been approved by the Security Exchange Commission, making FaZe Clan one of the first esports orgs to become a publicly-traded company.
"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 stated in the official announcement. "We look forward to closing the Business Combination and continuing to partner with the B. Riley team in our journey to the public market."
FaZe Clan's ticker on the exchange will be FAZE, making it recognizable to gamers and esports fans everywhere. Shareholders of BBRM will attend a special meeting on July 15 to vote on proposals that will ultimately approve the transaction and other official matters.
While the details of the process are a bit confusing for younger fans and people new to the stock market, being able to invest in FaZe Clan is exciting for hardcore fans of the org and esports alike. Many have already vowed on social media to invest in FaZe Clan, although details on the pricing and how much it's worth are still a mystery.
Esports writer and editor with a passion for creating unique content for the gaming community.