RTTNews | Oct 25, 2021 09:48AM EDT

09:47 Monday, October 25, 2021 (RTTNews.com) - Shares of special purpose acquisition company B. Riley Principal 150 Merger Corp. (BRPM) are gaining about 20% on Monday morning after Chinese gaming and media platform FaZe Clan Inc. announced its plans to list its shares by merging with the SPAC.

BRPM is currently trading at $11.67, up $1.93 or 19.82%, on the Nasdaq.

The proposed business combination transaction implies an equity value of about $1 billion for the combined company inclusive of nearly $275 million of cash.

B. Riley will change its name to FaZe Holdings Inc after the merger and will list its shares on the NASDAQ under the new ticker symbol "FAZE."

Read the original article on RTTNews ( https://www.rttnews.com/3235172/b-riley-principal-up-20-chinese-digital-digital-platform-faze-clan-to-go-public-via-spac-merger.aspx)

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