B. Riley Principal 150 Merger set the close of business today, May 26, as the record date for stockholders to be eligible to vote on the proposed merger with FaZe Clan, a gaming lifestyle and esports company. Rapper Snoop Dogg sits on the FaZe Clan board of directors.
The deal is expected to close by July, following some reports earlier this month that the merger might be in jeopardy after the company missed its financial forecast. Not only did recent developments drop the post-merger market capitalization of FaZe Clan substantially below the billion-dollar mark, but it also reduced the expected transaction proceeds from the merger by presumably at least $73 million, The Sports Business Journal reported.
If the deal is ultimately approved, the combined company would trade on the Nasdaq under FAZE. Read more.
