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FaZe Clan to become a publicly traded company

Temperrr, Apex, Rain, and the other owners are hoping that their company will FaZe Up when it hits the stock market.
Donovan Erskine
Donovan Erskine
8

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.

News Editor
News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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