B. Riley Financial, Inc. - Mar 7, 2024 Form 4 Insider Report for FaZe Holdings Inc. (FAZE)

Role
10%+ Owner
Signature
/s/ Bryant R. Riley, the Co-Chief Executive Officer of B. Riley Financial, Inc.
Stock symbol
FAZE
Transactions as of
Mar 7, 2024
Transactions value $
$0
Form type
4
Date filed
3/26/2024, 05:16 PM
Previous filing
Feb 9, 2024
Next filing
Aug 9, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FAZE Common Stock Other -11M -100% 0 Mar 7, 2024 By. B. Riley Principal Investments, LLC F1, F2, F3
transaction FAZE Common Stock Other -200K -100% 0 Mar 7, 2024 Direct F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FAZE Warrants (right to buy) Other -156K -100% 0 Mar 7, 2024 Class A Common Stock 156K $11.50 By. B. Riley Principal Investments, LLC F1, F2, F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

B. Riley Financial, Inc. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 B. Riley Principal Investments, LLC ("BRPI") is the managing member of B. Riley Principal 150 Sponsor Co., LLC ("Sponsor") and is a wholly-owned subsidiary of B. Riley Financial, Inc. ("BRF"). BRPI and BRF have voting and dispositive power over the securities held by the Sponsor. As a result, BRF may be deemed to indirectly beneficially own the securities directly held by BRPI, and each of BRPI and BRF may be deemed to indirectly beneficially own the securities directly held by the Sponsor.
F2 Bryant R. Riley is the Co-Chief Executive Officer and Chairman of the Board of Directors of BRF. As a result, Bryant R. Riley may be deemed to indirectly beneficially own the securities directly held by the Sponsor and BRPI. Each of BRF, the Sponsor, BRPI, and Bryant R. Riley disclaims beneficial ownership of any securities reported herein, except to the extent of its/his respective pecuniary interest therein, directly or indirectly.
F3 On March 7, 2024, GameSquare Holdings, Inc., a Delaware corporation ("GameSquare"), consummated the previously announced merger of FaZe Holdings Inc., a Delaware corporation ("FaZe" or the "Issuer"), by and among GameSquare, FaZe and a wholly owned subsidiary of GameSquare. At the effective time of the Merger, each outstanding share of FaZe Common Stock was converted into the right to receive 0.13091 of a fully paid non-assessable share of common stock of GameSquare. As a result, the previously reported shares and warrants of Common Stock of the Issuer owned by the Reporting Persons were converted and the Reporting Persons no longer beneficially own any shares or warrants of the Issuer.
F4 Represents shares held directly by Bryant R. Riley.
F5 The warrants are exercisable 30 days after the completion of the Business Combination. The warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation.