FaZe Clan will join the Nasdaq Stock Market on June 20 — SiegeGG
Later this week, on June 20, the FaZe Clan organization will go public on the Nasdaq exchange, allowing investors to buy shares of the growing esports company.
This follows a merger with B. Riley Principal 150 Merger Corp, which took place on July 15 after approval was granted by the SEC on June 22.
In the future, the company renamed “FaZe Holdings Inc.” reportedly received a valuation of just under $1 billion at $987 million. “FAZE” will begin trading on the Nasdaq Stock Market in New York on Wednesday, July 20.
This makes FaZe Clan the third Rainbow Six Siege organization to go public, following Astralis in 2019, which is currently listed in Denmark and the US, and Enthusiast Gaming – the owners of Luminosity Gaming – which are both currently on Nasdaq. . and the TSX in Canada.
FaZe Clan currently competes and is fairly successful in virtually every western shooter, with notable esports involvement in Counter-Strike, Call of Duty, VALORANT, Fortnite, Halo, PUBG, and of course, Rainbow Six Siege. FaZe is also involved with Rocket League, Smash Bros. and FIFA.
Besides winning FaZe’s R6 Six Major last year, the organization also won the CS Major in Antwerp two months ago and reached the Grand Finals in two CDL Majors this year.
More important than all of that, though, has been FaZe’s growth as a brand outside of gaming. They’ve established merchandise partnerships with companies like Disney and brands like Naruto, produced content with celebrities like as Snoop Dog (who saw him wear a FaZe Clan necklace during Super Bowl halftime), and has previously partnered with several corporate sports such as Manchester City FC and the National Football League.
FaZe Clan’s more universal reach as a brand is what values them at almost a billion dollars and why they took this step before other massive esports organizations such as TSM, T1 or Team Liquid.