One of the most popular and successful esports teams in the industry just made another big stride in the business industry.
FaZe Clan initially announced their plans to go public back in October 2021 with a $1 billion valuation through a merger with B. Riley Principal 150 Merger Corp, in a deal was initially expected to close in the first quarter of 2022.
However, a missed deadline raised doubts about the completion of the deal.
That all went out the window when the merger was officially approved by shareholders on July 15th, and the new entity called FaZe Holdings Inc. The SEC approved the merger on July 22nd.
“This is what pioneers look like,” FaZe Chief Executive Officer Lee Trink said in a Tweet. “This is what the future of entertainment and culture, and the intersection of technology and culture, look like.
“We are going to continue to do things that people have never seen. You’ve never seen a group like this in front of this camera, and that is emblematic of the type of future we’re building.”
The new entity is now being traded on the NASDAQ exchange under the ticker $FAZE.