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B. Riley Principal 150 Merger Corp. (Nasdaq: BRPM, BRPMU) announced stockholder approval for its business combination with FaZe Clan Inc., a lifestyle and media platform focused on gaming. The merger is set to close on July 19, 2022, after which the company will be renamed FaZe Holdings Inc. Shares are expected to trade under the new tickers FAZE and FAZEW starting July 20, 2022. The deal aims to leverage FaZe Clan's extensive social media reach, targeting the youth market with its diverse content and partnerships.
B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM) announced the record date of May 26, 2022, for a special meeting of stockholders to vote on its proposed merger with FaZe Clan, a prominent esports and gaming lifestyle company. The business combination is anticipated to finalize by July 2022, pending stockholder and regulatory approvals. Following the merger, BRPM will be renamed FaZe Holdings Inc., with new ticker symbols 'FAZE' and 'FAZEW' for its shares and warrants, respectively. A proxy statement/prospectus will be provided to stockholders once effective.
On April 12, 2022, FaZe Clan announced the addition of Donald De La Haye, known as "FaZe Deestroying," to their talent roster. Deestroying, a former college football player with over 10 million social media followers, transitioned to content creation after leaving college football. His dynamic sports content and vlogs have resonated with a dedicated fanbase. As an advocate for athlete compensation, he played a pivotal role in changing NCAA rules around name, image, and likeness (NIL). FaZe Clan aims to leverage his influence to expand their content offerings.
B. Riley Principal 150 Merger Corp. (NASDAQ: BRPMU, BRPM, BRPMW) has filed a registration statement with the SEC for a proposed business combination with FaZe Clan Inc., a digital content platform. This merger is expected to close in early Q2 2022, pending shareholder approval and regulatory conditions. Post-combination, BRPM will rebrand as 'FaZe Holdings Inc.' and its common stock will trade under the new ticker symbol 'FAZE'. The merger includes a $118 million private placement led by B. Riley Securities.
B. Riley Principal 150 Merger Corp. (Nasdaq: BRPMU) announced that starting April 9, 2021, holders of its Units can separately trade shares of its Class A common stock (symbol: BMPM) and Warrants (symbol: BRPMW). The Units that are not separated will continue trading under the symbol BRPMU. The announcement aims to improve liquidity for investors. The offering was previously made only through a prospectus from B. Riley Securities, indicating compliance with securities regulations.
B. Riley Principal 150 Merger Corp. closed its initial public offering (IPO) on February 23, 2021, raising gross proceeds of $172.5 million. The offering consisted of 17,250,000 units, priced at $10.00 per unit, with trading beginning under the ticker symbol BRPMU. Each unit includes one share of Class A common stock and one-third redeemable warrant. The company plans to use the proceeds for potential business combinations, focusing on firms with an enterprise value of $300 million to $1 billion. B. Riley Securities, Inc. was the sole book-running manager.
B. Riley Principal 150 Merger Corp. announced the pricing of its initial public offering (IPO) of 15 million units at $10.00 each, set to trade on Nasdaq under the symbol BRPMU starting February 19, 2021. Each unit includes one share of Class A common stock and one-third of a redeemable warrant, with the warrants exercisable at $11.50 per share. The IPO aims to raise capital for business combinations. The offering is expected to close on February 23, 2021, and B. Riley Securities, Inc. serves as the sole book-running manager.
