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FaZe Clan explores GameSquare Esports and Enthusiast Gaming acquisition offers

Posted : 25 July 2023
North American esports organization FaZe Clan is considering acquisition offers from GameSquare Esports and Enthusiast Gaming, according to Sports Business Journal.

Discussions are ongoing, and the deal may involve an equity swap or cash injection.FaZe Clan, GameSquare, and Enthusiast Gaming have yet to comment on the matter.
 
FaZe Clan had previously disclosed in an SEC filing that it was evaluating options to restructure the company's capital structure.

The organization has faced challenges since becoming publicly listed on NASDAQ in July 2022, with its stock plummeting from $1.74 to $0.41 in January 2023.

This drop led to a notice of delisting from NASDAQ, and shareholders approved a reverse stock split in July. Additionally, FaZe Clan reported a net loss of $14 million in Q1 2023.
 
Both potential acquisition offers for FaZe Clan come from publicly NASDAQ-listed companies. GameSquare Esports owns Complexity Gaming, while Enthusiast Gaming owns various esports and gaming assets, including Luminosity Gaming, Seattle Surge, Vancouver Titans, EV.IO, and multiple gaming websites.
 

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