FaZe Clan is set to join the growing list of esports organisations that are publically listed companies, announcing today that a merger with B. Riley Principal 150 Merger Corp. (BRPM) will see that company change its name to "FaZe Holdings Inc." and their combined stocks listed on the Nasdaq as "FAZE."
It's hoped the move will allow FaZe to further fund their growth with the company billing itself as the "only digitally native, youth-focused lifestyle and media platforms publicly traded on a U.S. national exchange."
FaZe joins a growing list of esport organisations that have gone public including Astralis A/S (Astralis) Enthusiast Gaming (Luminosity Gaming, Seatle Surge, and Vancouver Titans) and Guild Esports.
“We are thrilled to announce this important milestone of FaZe Clan’s plans to enter the public market. In our short history, we have evolved from a disruptive content generator to one of the world’s most decorated and successful esports franchises, and now into one of the younger generations’ most recognized and followed brands globally," said Lee Trink, Chief Executive Officer of FaZe Clan on announcing the merger.
"We believe FaZe Clan is becoming the voice of youth culture, a brand that sits at the nexus of content, gaming, entertainment and lifestyle in the digital-native world. This transaction will provide us capital and access to the public markets, which will help us accelerate the expansion of our multi-platform and monetization strategy. We are so grateful to the millions of loyal fans who have helped us take FaZe Clan to the next level, without whom this would not have been possible."
Dan Shribman, Chief Investment Officer of B. Riley Financial, and CEO and CFO of BRPM, said "With unmatched social media reach and Gen Z engagement, and the opportunity to meaningfully expand its global multi-platform presence across content, gaming, entertainment, consumer products and the metaverse, we believe FaZe Clan is a compelling investment with the potential to create significant value."
FaZe Clan was founded in 2010 around a group of Call of Duty content creators and grew quickly to become one of the most recognisable organisations in esports, now fielding teams and players in Call of Duty (Atalanta FaZe), CSGO, Fortnite, Valorant and Rocket League among others.
It has also led the way in leveraging content creators to maximise exposure and secure partnerships with sports stars and musicians both investing and "joining" FaZe Clan. That success has led to deals with a multitude of companies including Manchester City, Nissan, and Verizon.
In June of this year, it became the first esport team to be featured on the cover of Sports Illustrated.