Immediately, a player whose Call of Duty clan tag contains “FaZe” may actually have some relationship with the group. FaZe Clan, a game-centric esports group, has grown from being a sponsor of the professional Call of Duty team to a full-fledged entertainment company and will be publicly traded on the stock market after the merger.
FaZe Clan Inc. The merger of B. Riley Principal 150 Merger Corp. and B. Riley Principal 150 Merger Corp. will result in “about $ 1 billion” transactions, according to FaZe Clan’s site. When the merger is complete, B. RileyPrincipal 150 Merger Corp has changed its name to FaZe Holdings Inc. and is listed as FAZE on NASDAQ.
Lee Trink, Group’s Chief Executive Officer, said: “We believe the FaZe clan is becoming the voice of youth culture, a brand that connects content, games, entertainment and lifestyle in the digital native world.”
FaZe Clan will also make significant money from the merger, for a total of $ 291 million. The company plans to use this cash injection for rapid growth into Gen Z and Millennial digital entertainment spaces. “Net revenue from transactions … is used to fund organic and inorganic growth as a company [FaZe Clan] Expand your digital native global multi-platform presence across content, games, entertainment, consumer products and the Metaverse. “
FaZe Clan is made up of young entertainers and streamers, some of whom have recently been suspended indefinitely for promoting cryptocurrencies that have lost thousands of dollars to fans.