{"id":1042553,"date":"2021-10-26T22:03:15","date_gmt":"2021-10-26T22:03:15","guid":{"rendered":"http:\/\/q5bNEJew4kjVYcnFBrFkQM"},"modified":"2021-10-26T22:03:15","modified_gmt":"2021-10-26T22:03:15","slug":"faze-clan-is-going-public-in-a-deal-valued-at-1b","status":"publish","type":"station","link":"https:\/\/platogaming.com\/plato-data\/faze-clan-is-going-public-in-a-deal-valued-at-1b\/","title":{"rendered":"Faze Clan is going public in a deal valued at $1B"},"content":{"rendered":"\n
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Faze Clan, the youth-focused “gaming, lifestyle and media platform,” has announced plans to go public through a merger with a “special purpose acquisition company” that will give it an “implied equity valuation” of\u2014get ready for it\u2014approximately $1 billion<\/em>.<\/p>\n

That wild figure arises primarily from the way that Faze is going public. Special purpose acquisition companies are basically shell corporations that exist solely for the purpose of acquiring another company. These SPAC<\/a> deals, as they’re known, are vehicles that enable private companies like Faze to go public without having to go through the slower and more regulated process of an initial public offering. Once the merger between the two companies is complete, the formerly private company takes the place of the SPAC on the exchange listing.<\/p>\n

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For you, the fans.Our biggest announcement to date: FaZe Clan is going to become a publicly traded company. https:\/\/t.co\/HaHJtFIglW pic.twitter.com\/YNYLpvVIRoOctober 25, 2021<\/a><\/p>\n<\/blockquote>\n

See more<\/span><\/p>\n<\/div>\n