Faze Clan is Going Public in $1 billion SPAC deal

Faze Clan is Going Public in $1 billion SPAC deal

Faze Clan is becoming part of a company that is worth $1 billion. The competitive esports group has merged with B. Riley Principal 150 Merger Corp. They are getting up to $291 million, which will help them to grow.

Faze a Clan is a group that makes teams for video games like Call of Duty, Counter-Strike: Global Offensive, Fortnite, PlayerUnknown’s Battlegrounds. They have 350 million people on social media. Last year they opened up Faze Studios, and one of the producers from 13 Reasons Why was there to make videos with them. Then celebrities like Ben Simmons (he is in the NBA) and Offset (he is in hip hop) joined the group too.

Faze Clan is Going Public in $1 billion SPAC deal
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Faze Clan will be on the stock market in 2022. But some people think it won’t be worth $1 billion. They might not believe that it’s worth $1 billion because Swift Media Entertainment is only worth half as much as FAZE Clan.🤷‍♀️

In their post, Faze Clan says that they want to make money in different ways. They will do this by buying things like hardware or software companies. They might also buy a company that makes video games. 100 Thieves did this in December and is doing well with it.

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