6 months 2 weeks ago
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GameSquare today announced that it has reached a deal to acquire gaming and esports outfit Faze Clan.
The all-stock deal will see each outstanding Faze Clan share swapped for a fraction of a share in GameSquare. Given the number of outstanding Faze Clan shares, potential shares from stock options, and yesterday's closing share price of GameSquare, that would put the maximum amount of the deal around $18.5 million.
That's a far cry from the $725 million valuation Faze Clan boasted when it went public last July in a SPAC merger.