Esports giant Faze Clan is considering a restructure that would see it go private as it continues to struggle financially, according to Sports Business Journal.
The gaming organization went public in July after completing a merger with B. Riley Principal 150 Merger. At the time, the newly combined company called Faze Holdings was valued at $725 million.
However, Faze has seen its stock price decline significantly, putting itself at risk of being delisted by the Nasdaq. As of March 23, the company was trading at 53 cents at the close of business, having lost more than 90% of its initial value. Having seen its shares close trading at figures under a dollar for 44 consecutive days, the company is thought to likely now run afoul of Nasdaq compliancy. Read more.
