Faze Clan Acquired for $17M, a Year After its $725M deSPAC | SPAC Feed

Faze Clan Acquired for $17M, a Year After its $725M deSPAC | SPAC Feed

Time Stamp: October 20, 2023 2:11 PM
Source Node: 2948438

FaZe Holdings., the struggling video-game-influencer company with 512 million followers across social media, is being acquired by GameSquare Holdings.

FaZe investors will receive about .14 GameSquare shares for every FaZe share, according to terms shared with Bloomberg News. That makes the acquisition worth about $17 million. GameSquare’s largest investors — the family of Dallas Cowboys owner Jerry Jones and Goff Capital — have agreed to commit $10 million as part of the deal. GameSquare plans to bring several FaZe founders back to top positions at the company.

The eSports company has been considering going private since at least March, after months of financial turmoil.

FaZe Clan went public in July 2022 after completing a merger with B. Riley Principal 150 Merger. At the time, the newly combined company called Faze Holdings was valued at $725 million. Read more.


Source: Faze Clan Acquired for M, a Year After its 5M deSPAC

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