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B. Riley Principal 150 Merger Corp.

BRPM · Nasdaq

Trust settledFaZe Holdings Inc. · Finished

NO ACTION REQUIRED

Nothing left to do

The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.

Cash at settlement

no closing figure

No cash-per-share figure was filed for this vehicle before it finished.

Last close

no quote on file

Daily close

Nothing left to claim

this vehicle finished

There is nothing to hand back: holders who wanted cash elected it at the vote, and the rest became shares in the buyer.

Read what happened to the cash

The floor

Trust settled

This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

Read the reasoning behind this verdict

No price history on file yet — daily closes accumulate from the market data feed.

Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.

SpacBrain’s read

Trust settled

The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

In plain terms

What it is
A SPAC from B. Riley Principal (Shribman Daniel), listed on Nasdaq in February 2021.
What it's doing now
It agreed to buy FaZe Holdings Inc.. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
What you should know
This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.

At a glance

Where it stands
Closed (deSPAC)
The business it bought
FaZe Holdings Inc. — Clan FaZe Clan is a digital-native lifestyle and media platform rooted in gaming and youth culture, reimagining traditional entertainment for the next generation.
Industry
the deal record does not name the target's industry yet
Deal value
not stated in the filings we hold
Price vs cash at settlement
no live price on file
Cash in trust when it settled
not yet extracted into a snapshot — the filings below may state it
the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
IPO
19 February 2021
size not on file
Headquarters
720 N. CAHUENGA BLVD., LOS ANGELES, CA, 90038
registered in Delaware
Lead underwriter
not extracted from the prospectus yet
Key officers
no Form 3/4 ownership filing captured yet
Listed securities
BRPM common
Cash held per sharenot filed for this window

This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.

Next date that mattersno dated event on file

Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.

Yield to redemption

Nothing left to redeem — no yield to compute.

This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.

What happened to the cash

The reasoning behind the verdict above, in the order the filings establish it.

  1. The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

What has happened, and what is coming

1 dated milestone

Every dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.

  1. 19 February 2021IPOpassed

    IPO size not on file

The deal

terms as filed

What it is buying, on what terms, and how much of the combined company new shares take from you.

  • FaZe Holdings Inc.—
    closed
    Deal structureSEC-primary — BCA 8-K / S-4 / DEFM14A
    PIPE
    ≈ $118M · unsourced

    PIPE terms — instrument, coupon, conversion price and any reset floor — are not sourced for this deal. The size above is itself unsourced — a stored figure no filing we hold states — so neither the size nor the terms should be read as cited.

    stated in:0001213900-22-001016 opens on sec.gov in a new tab

The score

deterministic, from filed fields

BRPM is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.

Asymmetric return scoreNeither a price nor a cash-per-share figure is on file for this vehicle, and the score is a ratio between the two. Nothing is estimated to fill the gap.

The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.

See the names that are scored, and how

The company

from SEC filings
Read the full profile

B. Riley Principal 150 Merger Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker FAZE. The company priced its initial public offering on February 19, 2021, with shares registered for cash under SEC file number 333-251955. It operated under the SEC SIC industry code 7990, covering Services-Miscellaneous Amusement & Recreation. The company completed a business combination and no longer files, with its closure established by a Form 25 filed on March 8, 2024, under 17 CFR 240.12d2-2(a)(3), indicating its shares became the successor's. The CIK is now filed under the name FaZe Holdings Inc.

Material findings

from the full read of every filing

Every document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.

  • DEFM14A26 January 20240001213900-24-007071opens on sec.gov in a new tab

    BRPM-legacy holders exchange FaZe stock for shares of a Canadian acquirer rather than receiving cash, so the consideration's value floats with GameSquare's own price — this is not a fixed exit. Because the deal is stock-for-stock, the relevant diligence is GameSquare's balance sheet, not a redemption price; the SPAC trust and deadline ended at the 2022 closing and give no protection here.

  • S-4/A21 June 20220001213900-22-033697opens on sec.gov in a new tab

    On completion BRPM's Class B common stock converts into Class A common stock and the Class A common stock is reclassified as New FaZe common stock when the Amended and Restated Certificate of Incorporation is filed with the Delaware Secretary of State, so part of the registered count is the SPAC's own capital. The PIPE was struck concurrently with the merger agreement, with subscription agreements from investors including ones affiliated with the sponsor, B. Riley Principal 150 Sponsor Co., LLC, and Cox Investment Holdings, Inc., a former FaZe securityholder.

  • S-4/A16 June 20220001213900-22-033370opens on sec.gov in a new tab

    The share count on the cover is stated as a maximum — up to 73,464,590 — rather than a fixed issuance, which is what a registration statement does when the number turns on redemptions and on securities that may or may not be exercised. The recapitalisation at closing is worth noting for anyone reading the cap table: Class B converts into Class A and Class A is then reclassified into a single class of New FaZe common stock on the filing of the Amended and Restated Certificate of Incorporation. The PIPE remains 11,800,000 shares at $10.00 for gross proceeds of $118,000,000.

  • S-4/A26 May 20220001213900-22-029803opens on sec.gov in a new tab

    The capital structure is flattened at closing rather than carried across: BRPM's Class B common stock converts into Class A, and the Class A is then reclassified as a single class of New FaZe common stock at $0.0001 par on the filing of the amended charter. A reader tracking founder shares should expect them to disappear as a class here, not to persist. The agreement has been amended twice since signing, and this row states only what this amendment's own cover states.

  • S-4/A29 April 20220001213900-22-022774opens on sec.gov in a new tab

    The document states an ascribed equity value for the combined company of $987 million and a full pro forma split assuming no redemptions: 15.0% to BRPM's public stockholders, 5.0% to public warrant holders assuming cash exercise, 65.8% to FaZe stockholders and 6.3% to the Sponsor and its affiliates. The PIPE is 11,800,000 shares at $10.00 for gross proceeds of $118,000,000, and its FaZe-side participant changed hands before closing: on January 12, 2022 Cox Investment Holdings assigned its FaZe securities and its subscription rights to its affiliate AEV Esports, LLC.

  • S-4/A28 April 20220001213900-22-022103opens on sec.gov in a new tab

    The PIPE is not arm's length throughout: subscription agreements signed with the merger commit investors to buy 11,800,000 shares at $10.00 per share for gross proceeds of $118,000,000, and those investors include parties affiliated with BRPM's own sponsor, B. Riley Principal 150 Sponsor Co., LLC, alongside Cox Investment Holdings, Inc., a former FaZe securityholder. Cox then assigned its FaZe securities and its rights and obligations under its subscription agreement to an affiliate, AEV Esports, LLC, on January 12, 2022. Closing of the PIPE is conditioned on the merger closing.

Show 2 more material filings
  • S-4/A14 March 20220001213900-22-011998opens on sec.gov in a new tab

    The merger agreement was amended a second time four days before this amendment was filed, so the terms described here are the March 10, 2022 version and any figure carried over from an earlier filing of this registration statement is stale by two amendments. The share structure also collapses at closing: BRPM Class B common stock converts into Class A, and Class A is then reclassified as a single class of New FaZe common stock on the filing of the amended and restated charter, so the dual-class arrangement does not survive into the combined company.

  • S-47 January 20220001213900-22-001016opens on sec.gov in a new tab

    The registered total is explicitly conditioned on no redemptions by B. Riley Principal 150 stockholders, so it is a best case rather than an expectation. It splits into 67,023,763 shares to holders of equity securities of FaZe Clan Inc. and 6,440,827 shares subject to vesting on the satisfaction of earn-out conditions, so the earn-out tranche is not delivered at closing. The $10.09 per-share figure is what the fee is computed on and is not a price agreed for FaZe Clan.

Filings

live EDGAR feed

Everything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.

Show the other 10 filings

The record

The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.

Show the reference detail

Unit structure

Cash in trust at IPOnot extracted from the prospectus

from 424B3 0001213900-23-086769

Trading & liquidity

Average daily volume (20d)no volume reported on the bars we hold
Average daily $ volumeneeds both volume and a live price
Range over the bars heldnot enough price history
Total cash in trustthe trust total is not in the last XBRL stamp

Company profile

Industry (SIC)Services-Miscellaneous Amusement & Recreation (7990)
Registered inDelaware
Exchange · CIKNasdaq · 0001839360

All filings on EDGARopens on sec.gov in a new tab

Directors & officers

No Form 3/4 ownership filing has been captured for this SPAC yet, so the roster is empty rather than guessed.

Institutional holders

from SC 13G/13D

Funds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.

Show the declared stakes

10 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.

One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.

News

company wires and the financial press

Reporting we have matched to this ticker. Headlines belong to the outlets that wrote them.

Show the headlines

Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.

Show the sources

31 full SEC filing texts archived — searchable, never lost.

In plain English

tap a term to open it

Every piece of jargon this page could have used, and what it actually means.

Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected

A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Broker action datethe day your broker needs the instruction — earlier than the official date

Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Trust discountbuying below the cash held for you

Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.

Dilutionhow much of the company new shares take from you

Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.

Pro-forma equitywhat the company is valued at once the deal closes

The combined company's equity value assuming the announced terms and the redemptions that have actually happened.

ARShow much upside you get per unit of downside

SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.

De-SPACthe day the SPAC becomes the real company

The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.

Outside datethe contractual long-stop for closing the deal

A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.

Accession numberthe SEC's unique id for one filing

Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.

Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since

A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.

Ask the brain

from its filings
Data provenance & audit trail4 internal entries

Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.

BRPM — company record
UNIVERSE-IPO-INDEX2026-08-17

admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 7990 (Services-Miscellaneous Amusement & Recreation). The screen found it by filing SHAPE instead — S-1 2021-01-08 → 8-A12B 2021-02-18 → 424B4 2021-02-19 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 7990 + self-described blank check in 424B4 0001213900-21-010572; 424B 0001213900-21-010572 priced 2021-02-19 under S-1 0001213900-21-001029 (file 333-251955, an offering for cash); common ticker BRPM off 10-K 0001213900-22-010928 (2022-03-07); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-251955, which belongs to S-1 0001213900-21-001029 (2021-01-08) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2021-02-19). Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-24-000132 (2024-03-08) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Common Stock, Warrant). EDGAR now files this CIK as "FaZe Holdings Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.

SPONSOR-ID2026-08-14

sponsor "B. Riley Principal 150 Sponsor Co., LLC" (SEC CIK 0001839013) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-21-010384.

Deal — FaZe Holdings Inc.
UNTAGGED

[CLOSED-RENAME] EDGAR CIK 0001839360 records "B. Riley Principal 150 Merger Corp." ending 2022-07-19; the registrant continues as "FaZe Holdings Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2022-07-19. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=118 from primary filings (0001213900-22-001016).

PIPE2026-08-29

pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow

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