This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEC3B0CQ_M.jpg
The merger follows a tough year for FaZe, which saw its shares decline by 90% after going public through a merger with a special-purpose acquisition entity. Despite this, FaZe is positioning itself as a significant gaming influencer platform.
As part of the terms of the merger, FaZe shareholders will exchange their holdings for GameSquare stock. The combined companies would have generated $138 million in revenue last year and anticipate over $18 million in run-rate savings from the deal.
Richard Bengtson is set to resume his role as CEO of FaZe Clan under GameSquare. To support the merger, Goff & Jones Lending, backed by Jerry Jones, plans a $10 million private placement stock purchase.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
