FaZe Clan going public in deal reportedly worth nearly $1 billion

You're about to be able to buy FaZe shares.

Popular esports organization FaZe Clan is set to become a publicly traded company after a merger with B. Riley Principal 150 Merger Corp (BRPM) was approved by BRPM shareholders today.

The deal is worth $987 million, according to Sportico reporter Eben Novy-Williams. When FaZe and BRPM announced the merger proposal in October 2021, it was believed the esports organization’s valuation could actually exceed $1 billion. The deal also took longer to finalize. Many experts believed it would be done in Q1 2022, although the merger only gained approval from the Securities and Exchange Commission near the end of Q2 2022.

Despite this, FaZe is set to become one of the first esports organizations to become publicly traded. The entity, FaZe Holdings Inc., will be traded on the NASDAQ under the ticker symbol $FAZE. At time of writing, $BRPM, which will be changed to the FaZe symbol once everything is finalized, is selling at $9.80 per share.

In addition to its successful esports teams and players, FaZe has developed a strong reputation in popular culture with the signings of artists and athletes, including rapper Lil Yachty, NFL quarterback Kyler Murray, and Bronny James, the son of NBA star LeBron James.

This article is developing.

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