How to buy FaZe Clan stock Once the merge is complete, you can buy FaZe Clan shares through any online or traditional broker. The stock is expected to trade under the new ticker symbol "FAZE" on the Nasdaq.
Full Answer
Is FaZe Clan now a publicly listed company?
North American esports organisation FaZe Clan has announced details of a merger with B.Riley Principal 150 Merger Corp (BRPM). If the merger is successful, the company will become a publicly listed company on NASDAQ in the following months.
Should investors focus more on FaZe Clan than the shell company?
B. Riley Principal 150 Merger is engaging in a special purpose acquisition company (SPAC) transaction with FaZe Clan. Therefore, investors should focus more on FaZe Clan’s business than on the shell company.
What does the SPAC merger mean for FaZe Clan?
Moreover, with the SPAC merger, FaZe Clan is “positioned to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a U.S. national exchange.” Financially speaking, FaZe Clan should be in a good position as a result of the SPAC transaction.
Who is FaZe Clan’s SPAC owner Daniel Shribman?
The SPAC is led by CEO and CFO Daniel Shribman. B. Riley’s previous two SPACs took Eos Energy Enterprises and Alta Equipment public last year. According to the deal, FaZe Clan will receive over $291 million in gross cash proceeds to pursue its growth plans.
How can I buy stock in FaZe Clan?
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Is FaZe on the stock market?
The SPAC merger — initially announced in October 2021 — would result in FaZe becoming a publicly-traded company on the NASDAQ stock exchange.
Can you invest in FaZe?
For interested investors who wish to participate, the webcast and replay will be available at investor.fazeclan.com or via this webcast link. Alternatively, investors can participate via a domestic toll‐free access number, 1-800-860-2442 and the international toll‐free access number (412) 858-4600.
What is FaZe Clan stock price?
Performance OutlookPrevious Close331.25Bid326.00 x 0Ask328.95 x 0Day's Range325.00 - 347.8052 Week Range20.35 - 347.803 more rows
Will FaZe go public?
Once its SPAC deal closes in Q1 of 2022, FaZe Clan will become the world's first publicly traded esports organization.
What is FaZe Clan stock called?
After the deal closes, which is expected to occur in the first quarter of 2022, the company's name will become FaZe Holdings Inc. and the stock will list on the Nasdaq under the ticker symbol "FAZE." The SPAC is sponsored by an affiliate of B. Riley Financial Inc.
What company owns FaZe?
FaZe Clan (formerly FaZe Sniping) is a professional esports and entertainment organization headquartered in Los Angeles, California, USA....FaZe Clan.Short nameFaZePresidentTom FoxCEOLee TrinkPartnersG Fuel Scuf Gaming SteelSeries Nissan HTC Gaming Wix Manchester City CTRL VerizonWebsitefazeclan.com15 more rows
The FAZE-BRPM merger details
According to the deal, FaZe Clan will receive over $291 million in gross cash proceeds to pursue its growth plans. The cash includes $173 million held in trust by BRPM and $118 million in PIPE (private investment in public equity).
How to buy FaZe Clan stock
Once the merge is complete, you can buy FaZe Clan shares through any online or traditional broker. The stock is expected to trade under the new ticker symbol "FAZE" on the Nasdaq. If you want to invest right now, you can buy the BRPM SPAC's stock on the Nasdaq.
Finder's top picks on where to buy FaZe Clan stock when it goes public
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What we know about the FaZe Clan IPO
On October 25, FaZe Clan—a youth lifestyle and media platform known especially among the gaming community—announced that it will be going public by merging with B. Riley Principal 150 Merger Corp., a special purpose acquisition company (SPAC).
How to buy shares in FaZe Clan when it goes public
Once FaZe Clan goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
Will I be able to buy FaZe Clan stocks from Canada?
You won't be able to buy FaZe Clan stocks on a Canadian stock exchange like the TSX or CSE. Instead, you'll need a Canadian broker that provides access to stocks sold on international exchanges.
Tax implications of buying US stocks in Canada
Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments is similarly taxed at a rate of 10%.
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A Closer Look at BRPM Stock
For many months, BRPM stock stayed near $10. That’s not unusual behavior for a pre-merger-announcement SPAC stock.
A Youth-Focused Platform
If you’re Gen X (like I am) or a Baby Boomer, then FaZe Clan might not appeal to you. That’s because the SPAC’s press release describes FaZe Clan as a “leading digital content platform created for, and by, the Gen Z and Millennial generations.”
E-sports, Metaverse and More
Financially speaking, FaZe Clan should be in a good position as a result of the SPAC transaction. That’s because the company is expected to receive estimated gross transaction proceeds totaling $291 million.
The Bottom Line
FaZe Clan is directed towards young people. There’s no denying this, as roughly 80% of its audience is between the ages of 13 and 34. Yet investors of all ages should be able to appreciate its profit potential as FaZe Clan has a vast audience.
