Canaccord Genuity acts as Exclusive Financial Advisor to FaZe Clan Inc. on its C$30 million Loan Facility
Canaccord Genuity is pleased to announce that on January 24, 2020, its client Faze Clan Inc. (“FaZe Clan” or the “Company”), announced that it entered into a convertible loan facility with one of Canada’s leading alternative credit providers (the “Lender”) pursuant to which the Lender agreed to loan C$30 million (the “Facility”) to the Company.
The Facility is convertible at a pre-money equity valuation of US$220 million and will be used for working capital and general corporate purposes. As conjunction with the Facility, the Lender has been given a seat on the Company’s board of directors.
FaZe Clan, an entertainment gaming and esports brand, is known predominantly for its roster of influencers, industry-leading live streamers, multi award-winning pro-players and competitive teams. Since its inception in 2010, the organization has established itself as one of the largest brands in gaming history, with over 210 million fans internationally across all social platforms. FaZe Clan actively cultivates and manages the most sought-after talent of the digital era. By placing emphasis on developing a team that exists at the intersection of mainstream gaming and pop culture, the organization's influence is unmatched.
Canaccord Genuity acted as exclusive financial advisor to FaZe Clan Inc. The Canaccord Genuity team included Michael Kogan and Todd Radons.
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