GameSquare's expected acquisition of FaZe pushed to February

In late October 2023, GameSquare had effectively announced that they would acquire FaZe in an all-stock transaction deal. The agreement would merge FaZe and GameSquare into one company that needs shareholder approval. According to according to Digiday, FaZe stock will account for approximately 45% of the firm's ownership, valuing FaZe at roughly $16.0M.

As of late December, the transaction has not yet been closed and seems to be heading into the new year. In a new 8-K filing with the SEC, FaZe issued an amendment to the merger agreement with GameSquare that pushed the End Date from December 31, 2023 to February 15, 2024. GameSquare also issued a 6-K filing confirming the same.

The amendment allows both parties to continue ironing out any issues to complete the transaction. No reports have emerged which would cast doubt on the transaction being completed at this time. GameSquare's F-4 filing on December 11th also includes the prospectus for the transaction which outlines details of the merger.

While this deal is going through, Jason Lake is reportedly searching for outside investment as he looks to re-acquire Complexity from GameSquare. Due to the potential conflict of interest between the Complexity and FaZe Counter-Strike divisions, it's thought that one of the two teams would need to be divested from GameSquare's ownership.

Dust2.us has previously reached out to ESL and Valve for comment on the continuously delayed transaction. ESL told Dust2.us, "We continue to monitor the situation with all parties involved. Whilst this is ongoing, both teams have been invited to compete in Intel Extreme Masters Katowice 2024." Meanwhile, Valve did not respond to a request for comment.