Blank-check company B Riley Principal up on $1 bln deal to take FaZe Clan public

FaZe Holdings

25/10/2021 13:44

** Blank-check company B Riley Principal 150 Merger Corp's
shares  BRPM.O  rise ~8.3% to $10.5 premarket
    ** Digital platform FaZe Clan on Monday agreed to go public
in a merger with co in a $1 bln SPAC deal  urn:newsml:reuters.com:*:nL4N2RL2M0
    ** The deal with BRPM will provide $291 million to FaZe,
including a private placement in public equity of $118 million
    ** New co, named FaZe Holdings Inc, is expected to begin
trading on the Nasdaq under the new ticker symbol "FAZE".
    ** SPACs are publicly listed shell companies that raise
funds with the intention of merging with a private entity within
two years of floating their shares, thereby taking the private
company public

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))