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FaZe Clan to Merge With SPAC and Go Public at $1 Billion Valuation

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The Wall Street Journal.As part of the deal, FaZe Clan is raising $120 million through a private investment in public equity (PIPE) associated with the merger.Pitbull is among FaZe Clan’s investors, as are other members of the entertainment and sports circles.

The B. Riley SPAC has about $170 million, the Journal reported.“The big opportunity is our direct relationship with the massive audience we have,” Lee Trink, CEO of FaZe Clan, told the WSJ. “It’s a very large, very vibrant community that we’re deeply rooted in.”FaZe Clan began more than a decade ago as a small group making montages from first-person shooter games.

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