B. Riley Principal 150 Merger today announced that stockholders voted in favor of the business combination with FaZe Clan, a lifestyle and media platform.
The deal is expected to close July 19. FaZe Holdings stock and warrants are expected to begin trading July 20 on the Nasdaq under the new ticker symbols FAZE and FAZEW.
A press release announcing the shareholder vote did not mention redemptions, if any. An 8-K outlining the vote results had not been filed as of mid-afternoon today.
FaZe in March waived the $218 million minimum cash condition for closing the deal, which initially had an implied equity value of approximately $1 billion. The deal is supported by a $118 million PIPE.
Rapper Snoop Dogg sits on the FaZe board. Read more.
