FaZe Clan, a Leading Gaming, Lifestyle and Media Platform, to Become a Publicly Listed Company Through Merger with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM)

LOS ANGELES and NEW YORK, Oct. 25, 2021 /PRNewswire/ — FaZe Clan Inc. (“FaZe Clan” or the “Company”) today announced it has entered into a definitive merger agreement (the “Merger Agreement”) to combine with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM) (“BRPM”), a special purpose acquisition company sponsored by an affiliate of B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley Financial”). The proposed business combination transaction (the “Business Combination”) implies an equity value of approximately $1 billion for the combined company inclusive of nearly $275 million of cash (assuming no redemptions). Through the proposed business combination, FaZe Clan is positioned to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a U.S. national exchange.

FaZe Clan is reimagining traditional entertainment for the next generation as a leading voice of youth culture.

Upon completion of the proposed Business Combination, BRPM will change its

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