Faze Clan To Go Public Through SPAC Deal With B. Riley Principal 150 Merger

T-Reuters2021-10-25

B. Riley Principal 150 Merger Corp :Faze Clan, A Leading Gaming, Lifestyle And Media Platform, To Become A Publicly Listed Company Through Merger With B. Riley Principal 150 Merger Corp. (Nasdaq: Brpm).B. Riley Principal 150 Merger Corp - Combined Co Expected To Have An Implied Equity Valuation Of About $1 Billion.B. Riley Principal 150 Merger Corp - Faze Clan Expected To List On Nasdaq Following Business Combination With B. Riley Principal 150 Merger Corp..B. Riley Principal 150 Merger Corp - Estimated Transaction Proceeds Of Approximately $291 Million (Including An Estimated $118 Million In Pipe Proceeds).B. Riley Principal 150 Merger Corp - On Pro Forma Basis Post-Closing, Existing Faze Clan Stockholders Will Own 68% Of Equity Interest.B. Riley Principal 150 Merger Corp - Upon Closing, Combined Company Will Be Led By Faze Clan'S Ceo, Lee Trink, Who Will Also Become Chairman Of Board.B. Riley Principal 150 Merger Corp - Upon Closing, Combined Company Will Have Amit Bajaj As Chief Financial Officer.

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