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

FaZe Holdings

25/10/2021 11:08

Oct 25 (Reuters) - B. Riley Principal 150 Merger Corp
 BRPM.O :
    * 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

Source text for Eikon:  ID:nPnb1CPsha 
Further company coverage:  BRPM.O 

 ((Reuters.Briefs@thomsonreuters.com;))