FaZe Clan will officially launch on July 20

FaZe Clan is set to go public after shareholders of B. Riley Principal 150 Merger Corp (BRPM) approved the merger of the two companies, the North American organization announced on Friday.

After the closing of the merger, the company was renamed FaZe Holdings Inc. will be changed to. And its shares are set to begin trading on the Nasdaq Index on Wednesday, July 20, under the new symbols “FAZE” and “FAZEW.”

By Ben Novi-Williams, Sportico correspondentThe deal is worth $987 million.

In October 2021, FaZe first acquired B. Riley Principal 150 Merger Corp., which had a combined asset value of $1 billion at the time. announced its intention to go public on the Nasdaq through a merger with

On June 22 of this year, FaZe announced that the Securities and Exchange Commission (SEC) had approved its IPO deal.

With the merger ending on July 19, FaZe officially has the highest valuation ever for an esports company. According to the Forbes list of the most valuable esports companies in 2022, FaZe ranks fourth with a valuation of $400 million, a 31% increase from 2020.

Originally founded in 2010, FaZe Clan has over 500 million followers on social platforms around the world and has also developed an esports section with 11 teams that have won over 30 world championships.

The organization’s roster is said to include more than 85 content creators, esports experts and celebrities such as Arizona Cardinals QB Kyler Murray, LeBron “Bronny” James Jr., Lil Yachty and Snoop Dogg.