North American esports organisation FaZe Clan has announced details of a merger with B.Riley Principal 150 Merger Corp (BRPM).
The company will thus become a publicly listed company on NASDAQ in the following months. The transaction implies the valuation of the company is in excess of $1B (~£726.2M), thus making FaZe the first ‘esports unicorn’ — or a company worth more than a billion dollars.
The new entity will be called FaZe Holdings Inc. and will be traded under the name FAZE. The merger has been approved by the boards of directors from both companies and is set to be finalised in early 2022.