Later this week on Jun. 20, the FaZe Clan organization will go public on the Nasdaq stock exchange allowing investors to buy shares of the growing esports company.
This comes following a merger with B. Riley Principal 150 Merger Corp, which took place on Jul. 15 after approval was granted by the SEC on Jun. 22.
Now going forward, the renamed “FaZe Holdings Inc.” has reportedly been given a valuation just below one billion dollars at $987m. “FAZE” will begin trading on the Nasdaq Stock Market in New York City on Wednesday, Jul. 20.
This makes FaZe Clan the third organization in Rainbow Six Siege to go public, following Astralis in 2019, which is currently listed in both Denmark and the USA, and Enthusiast Gaming -- the owners of Luminosity Gaming -- which is currently both on the Nasdaq and the TSX in Canada.
FaZe Clan is currently competing and fairly successful in practically every Western shooter, with notable esports involvement in Counter-Strike, Call of Duty, VALORANT, Fortnite, Halo, PUBG, and of course, Rainbow Six Siege. FaZe are also involved in Rocket League, Smash Bros., and FIFA.
Aside from FaZe’s R6 Six Major victory last year, the organization also won the CS Major in Antwerp two months ago and has reached the grand finals in two CDL Majors this year.
More important than all of this, though, has been FaZe’s growth as a brand outside of gaming. They’ve made merchandise partnerships with companies such as Disney and brands such as Naruto, produced content with celebrities such as Snoop Dog (which saw him wear a FaZe Clan necklace while performing at the Super Bowl halftime show), and previously partnered with several sports companies including Manchester City F.C. and the National Football League.
FaZe Clan’s more universal reach as a brand is what makes them valued at close to a billion dollars and why they’ve taken this step before other massive esports organizations such as TSM, T1, or Team Liquid.