Faze Clan goes public in $725 million SPAC deal
by Jay Peters from The Verge - All Posts on (#61M5M)
Image: Faze Clan Faze Clan, one of the biggest esports companies in the world, has officially gone public via a SPAC merger with B. Riley Principal 150 Merger Corp. The deal values Faze at $725 million, according to Axios, which is lower than the original $1 billion valuation from when the merger was announced in October. Faze is now trading on the Nasdaq exchange under the ticker symbol FAZE.
Faze is a huge esports and gaming lifestyle brand, and it's extremely popular with younger audiences - Faze claims that about 80 percent of its audience is between the ages of 13 and 34. It not only has 11 competitive esports teams in games like Counter-Strike: Global Offensive, Fortnite, PUBG, and Valorant but is also associated with some big personalities,...