FaZe Clan to become a publicly traded company

FaZe Clan was one of the pioneers of what became today’s online gaming culture and is still a major player in competitive gaming and the entertainment side of the industry. The company is set to enter a brand new era, as the owners have announced that FaZe Clan will become a publicly-traded company on the NASDAQ.

FaZe Rain, FaZe Temperrr, FaZe Apex, and FaZe Cbass got together digitally to announce that the company is going public in a video shared on social media. In the video, the owners reflect on the history of the company, from its early days as a fun Call of Duty channel, to one of the most influential brands in gaming culture. FaZe is looking to take another step forward by going public.

Set to list on the NASDAQ, fans will be able to buy and sell shares of FaZe Clan, which will use the stock symbol FAZE. In the official press release, the company further details its merger with B. Riley Principal and its move to go public.

The proposed business combination transaction (the “Business Combination”) implies an equity value of approximately $1 billion for the combined company inclusive of nearly $275 million of cash (assuming no redemptions). Through the proposed business combination, FaZe Clan is positioned to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a U.S. national exchange.

Once the merger is complete, FaZe Clan will officially change its company name to “FaZe Holdings Inc.” There is no indication as to what date FaZe Clan will become tradable in the news release. As the owners state in the video, FaZe Clan has come a long way from doing cool trick shots on YouTube. It will be interesting to see how the company performs once it’s publicly listed.