FaZe filing sheds light on risks ahead of intended SPAC merger

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Esports Insider

Riley Principal 150 Merger Corp. (BRPM) has submitted an amended filing to the SEC that includes details on its proposed business combination with FaZe Clan. The SPAC merger — initially announced in October 2021 — would result in FaZe becoming a publicly-traded company on the NASDAQ stock exchange. What’s in the filing?In the amended S-4/A filing, BRPM indicated that FaZe fell short of EBITDA (Earnings before interest, taxes, depreciation, and amortisation) projections by $9.74m (~£7.75m). BRPM pointed to higher than expected costs for original programming, additional executive hires and chang…

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