SEC Form 424B3 filed by B. Riley Principal 150 Merger Corp.
Filed Pursuant to Rule 424(b)(3)
Registration No. 333-267756
Prospectus Supplement No. 1 to Reoffer Prospectus
of
FAZE HOLDINGS INC.
Additional 841,667 Shares of Common Stock Offered by Selling Stockholders
This Prospectus Supplement, dated December 9, 2022 (this “Supplement”), supplements the reoffer prospectus included in the Registration Statement on Form S-8 filed by FaZe Holdings Inc., a Delaware corporation (the “Company”), with the Securities and Exchange Commission (the “SEC”) on October 6, 2022 (the “Reoffer Prospectus”) to reflect 841,667 additional shares (the “Additional Shares”) of Common Stock, par value $0.0001 per share (the “Common Stock”), of the Company that may be offered and sold from time to time by certain of our executive officers and directors (the “Additional Selling Stockholders”) who are considered an “affiliate” of the Company (as defined in Rule 405 under the Securities Act of 1933, as amended (the “Securities Act”)) and who have acquired, or will acquire such shares, as a result of grants made to the Additional Selling Stockholders under the FaZe Holdings Inc. 2022 Omnibus Incentive Plan. The Reoffer Prospectus, as updated by this Supplement, relates to the resale of up to an aggregate of 11,000,959 shares of Common Stock by the Additional Selling Stockholders and certain other employees of the Company whom may be considered “affiliates” of the Company (collectively, the “Selling Stockholders”).
You should read this Supplement in conjunction with the Reoffer Prospectus. This Supplement is qualified by reference to the Reoffer Prospectus and the information contained therein, including by incorporation by reference, except to the extent the information in this Supplement supersedes the information contained in the Reoffer Prospectus.
The Common Stock is currently listed on the Nasdaq Capital Market and trades under the symbol “FAZE.” On December 8, 2022, the last reported sales price of the Common Stock on The Nasdaq Capital Market was $2.01 per share.
The shares of Common Stock offered by the Reoffer Prospectus, as supplemented by this Supplement, may be sold from time to time directly by or on behalf of each Selling Stockholder, and in connection with their sales, a Selling Stockholder and any participating broker or dealer may be deemed to be “underwriters” within the meaning of the Securities Act, all as further set forth in “Plan of Distribution” in the Reoffer Prospectus.
INVESTING IN OUR SECURITIES INVOLVES RISKS THAT ARE DESCRIBED IN THE “RISK FACTORS” SECTION BEGINNING ON PAGE 7 OF THE REOFFER PROSPECTUS, AND SUCH RISKS AND THE “CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS” ON PAGE 4 OF THE REOFFER PROSPECTUS SHOULD BE REVIEWED CAREFULLY.
Neither the SEC nor any state securities commission has approved or disapproved of the securities to be issued under the Reoffer Prospectus or this Supplement or determined if the Reoffer Prospectus or this Supplement is truthful or complete. Any representation to the contrary is a criminal offense.
The information set forth under the caption “Selling Stockholders” in the Reoffer Prospectus is amended and supplemented as set forth below. Terms not otherwise defined herein shall have the respective meanings set forth in the Reoffer Prospectus.
The date of this Prospectus Supplement is December 9, 2022
SELLING STOCKHOLDERS
The table below sets forth information concerning the resale of the shares of Common Stock by the Selling Stockholders. We will not receive any proceeds from the resale of the shares of the Common Stock by the Selling Stockholders.
The table below sets forth, as of (i) September 15, 2022, with respect to the 10,159,292 shares of Common Stock offered for resale by the Selling Stockholders listed in the original Reoffer Prospectus, and (ii) November 30, 2022, with respect to the Additional Shares offered for resale by the Additional Selling Stockholders: (i) the name of each person who is offering the resale of shares of Common Stock by the Reoffer Prospectus, as supplemented by this Supplement; (ii) the number of shares of Common Stock that each Selling Stockholder may offer for sale from time to time pursuant to the Reoffer Prospectus, as supplemented by this Supplement, whether or not such Selling Stockholder has a present intention to do so; and (iii) the number of shares (and the percentage, if 1% or more) of Common Stock each person will own after the offering, assuming they sell all of the shares offered. Unless otherwise indicated, beneficial ownership is direct and the person indicated has sole voting and investment power. Unless otherwise indicated, the address for each Selling Stockholder listed in the table below is c/o FaZe Holdings Inc., 720 N. Cahuenga Blvd., Los Angeles, CA 90038.
The Selling Stockholders identified below may have sold, transferred or otherwise disposed of some or all of their shares of Common Stock since the date on which the information in the following table is presented in transactions exempt from or not subject to the registration requirements of the Securities Act. Information concerning the Selling Stockholders may change from time to time and, if necessary, we will further amend or supplement this Reoffer Prospectus, as supplemented by this Supplement, accordingly. We cannot give an estimate as to the number of shares of Common Stock that will actually be held by the Selling Stockholders upon termination of this offering because the Selling Stockholders may offer some or all of their shares of Common Stock under the offering contemplated by the Reoffer Prospectus or acquire additional shares of Common Stock. The total number of shares of Common Stock that may be sold hereunder will not exceed the number of shares of Common Stock offered hereby. Please read the section entitled “Plan of Distribution” in the Reoffer Prospectus.
| Selling Stockholder |
Shares of Common Stock Beneficially Owned Prior to this Offering(1) |
Shares of Common Stock Offered for Resale in this Offering(2) |
Shares of Common Stock Beneficially Owned After this Offering(3) |
Percentage of Common Stock Beneficially Owned After this Offering(1)(3) |
||||||||||||
| Ben Gordon |
64,898 | 64,898 | — | — | ||||||||||||
| Julia Handra |
1,723 | 1,723 | — | — | ||||||||||||
| Brittany Le |
1,522 | 1,522 | — | — | ||||||||||||
| Rich Flier |
237,861 | 237,861 | — | — | ||||||||||||
| Spencer Sherman |
59,487 | 59,487 | — | — | ||||||||||||
| Jennie Parungao |
47,696 | 47,696 | — | — | ||||||||||||
| Adam Bauer |
118,577 | 118,577 | — | — | ||||||||||||
| Matt Augustin |
4,740 | 4,740 | — | — | ||||||||||||
| Clara Gardasevich |
2,379 | 2,379 | — | — | ||||||||||||
| Ryan Greene |
2,385 | 2,385 | — | — | ||||||||||||
| Bill McCullough |
236,978 | 236,978 | — | — | ||||||||||||
| Nic Gibbs |
71,040 | 71,040 | — | — | ||||||||||||
| Stash Solinski |
23,671 | 23,671 | — | — | ||||||||||||
| Soben Phy |
5,666 | 5,666 | — | — | ||||||||||||
| Shawn Clark-Dougherty |
3,252 | 3,252 | — | — | ||||||||||||
| Muj Fricke |
11,871 | 11,871 | — | — | ||||||||||||
| Randy Baptista |
989 | 989 | — | — | ||||||||||||
| Joel De La Cruz |
1,331 | 1,331 | — | — | ||||||||||||
| Rita McMillin |
2,387 | 2,387 | — | — | ||||||||||||
| Ariel Zengotita |
2,379 | 2,379 | — | — | ||||||||||||
| Kirstie Zengotita |
2,379 | 2,379 | — | — | ||||||||||||
| Philip Gerads |
2,396 | 2,396 | — | — | ||||||||||||
| Joseph Martin |
2,368 | 2,368 | — | — | ||||||||||||
| Timothy Hsiao |
2,369 | 2,369 | — | — | ||||||||||||
| Addison Dailey |
2,370 | 2,370 | — | — | ||||||||||||
| Stephen Heo |
2,370 | 2,370 | — | — | ||||||||||||
| Million Dessie |
2,367 | 2,367 | — | — | ||||||||||||
| Patrick Debiniski |
2,366 | 2,366 | — | — | ||||||||||||
| Darren Yan |
239,098 | 239,098 | — | — | ||||||||||||
| Vera Salamone |
179,721 | 179,721 | — | — | ||||||||||||
| Taav Cooperman |
119,681 | 119,681 | — | — | ||||||||||||
| Nik Jayaram |
53,665 | 53,665 | — | — | ||||||||||||
| Griffin Hadley |
23,901 | 23,901 | — | — | ||||||||||||
| Brandon Dalton |
11,911 | 11,911 | — | — | ||||||||||||
| Stephanie Lechman |
3,393 | 3,393 | — | — | ||||||||||||
| Kyle Rooney |
2,375 | 2,375 | — | — | ||||||||||||
| Spencer Held |
1,770 | 1,770 | — | — | ||||||||||||
| Stephanie Mermigas |
23,795 | 23,795 | — | — | ||||||||||||
| Alyson Yamauchi |
23,698 | 23,698 | — | — | ||||||||||||
| Derek Chestnut |
119,814 | 119,814 | — | — | ||||||||||||
| Mohammad Abdelfattah |
35,851 | 35,851 | — | — | ||||||||||||
| Meredith Shiney |
4,761 | 4,761 | — | — | ||||||||||||
| Jared Richardson |
2,375 | 2,375 | — | — | ||||||||||||
| Ruben Morales |
647 | 647 | — | — | ||||||||||||
| Sergey Mukhamedianov |
59,487 | 59,487 | — | — | ||||||||||||
| Eddie Han |
35,944 | 35,944 | — | — | ||||||||||||
| Jerry Peralte |
1,347 | 1,347 | — | — | ||||||||||||
| Rana Kaplan |
179,721 | 179,721 | — | — | ||||||||||||
| Karen Kim |
2,391 | 2,391 | — | — | ||||||||||||
| Xavier Ramos |
179,058 | 179,058 | — | — | ||||||||||||
| Brooke Grant |
119,505 | 119,505 | — | — | ||||||||||||
| Robert Wolfe |
1,472 | 1,472 | — | — | ||||||||||||
| Stephen Simadibrata |
2,367 | 2,367 | — | — | ||||||||||||
| Laura Ryk |
4,734 | 4,734 | — | — | ||||||||||||
| Erick Rodriguez |
4,734 | 4,734 | — | — | ||||||||||||
| Kaniaka Ashford |
2,367 | 2,367 | — | — | ||||||||||||
| Miguel Rosales |
2,367 | 2,367 | — | — | ||||||||||||
| Chelsey Northern |
118,886 | 118,886 | — | — | ||||||||||||
| Chloe Snyder |
4,734 | 4,734 | — | — | ||||||||||||
| Erik Anderson |
418,598 | 418,598 | — | — | ||||||||||||
| Luke Dainton |
11,981 | 11,981 | — | — | ||||||||||||
| Ivan Roichman |
11,981 | 11,981 | — | — | ||||||||||||
| Andrew Ziedins |
5,964 | 5,964 | — | — | ||||||||||||
| Dom Chotivanich |
4,741 | 4,741 | — | — | ||||||||||||
| Robert Dahlstrom |
35,944 | 35,944 | — | — | ||||||||||||
| Allen Shvarts |
11,831 | 11,831 | — | — | ||||||||||||
| Javier Orozco |
2,365 | 2,365 | — | — | ||||||||||||
| Ilina Rulsky |
2,365 | 2,365 | — | — | ||||||||||||
| Brandon Jackson |
117,694 | 117,694 | — | — | ||||||||||||
| Danny Sung |
118,224 | 118,224 | — | — | ||||||||||||
| Anthony Gaffney |
2,364 | 2,364 | — | — | ||||||||||||
| Hubrick Limited |
359,442 | 359,442 | — | — | ||||||||||||
| Brian Awadis |
718,884 | 718,884 | — | — | ||||||||||||
| Nick Kolcheff |
250,589 | 250,589 | — | — |
| Lucas Mosing |
191,702 | 191,702 | — | — | ||||||||||||
| Jason McAllister |
143,777 | 143,777 | — | — | ||||||||||||
| Mike Novogratz |
47,413 | 47,413 | — | — | ||||||||||||
| Sam Englebardt |
2,370 | 2,370 | — | — | ||||||||||||
| Alex Prynkiweicz |
477,136 | 477,136 | — | — | ||||||||||||
| Justin Kenna |
239,628 | 239,628 | — | — | ||||||||||||
| Philip Gordon |
1,653,865 | 1,653,865 | — | — | ||||||||||||
| Jaci Hays |
654,361 | 654,361 | — | — | ||||||||||||
| Jakob Swaerden |
381,991 | 381,991 | — | — | ||||||||||||
| Nikan Nakimkah |
118,931 | 118,931 | — | — | ||||||||||||
| Sabastian Diamond |
681,671 | 681,671 | — | — | ||||||||||||
| Devin Magee |
11,769 | 11,769 | — | — | ||||||||||||
| Kieran Magee |
11,769 | 11,769 | — | — | ||||||||||||
| Garret Underhill |
17,654 | 17,654 | — | — | ||||||||||||
| John Joseph Cizek III |
35,308 | 35,308 | — | — | ||||||||||||
| Curtis Henke |
11,769 | 11,769 | — | — | ||||||||||||
| Mohammed Eid |
11,769 | 11,769 | — | — | ||||||||||||
| Tyler Noble |
11,769 | 11,769 | — | — | ||||||||||||
| Austin Gwidt |
11,981 | 11,981 | — | — | ||||||||||||
| Patric Bragaru |
35,308 | 35,308 | — | — | ||||||||||||
| Cameron Spector |
23,539 | 23,539 | — | — | ||||||||||||
| Kerry Nguyen |
11,769 | 11,769 | — | — | ||||||||||||
| Hayden Eller |
11,769 | 11,769 | — | — | ||||||||||||
| Austin Pamajewon |
35,591 | 35,591 | — | — | ||||||||||||
| Franco Sicilia |
23,786 | 23,786 | — | — | ||||||||||||
| Luke Sharretts |
11,769 | 11,769 | — | — | ||||||||||||
| Kris Lamberson |
117,694 | 117,694 | — | — | ||||||||||||
| Josue Burgos |
35,308 | 35,308 | — | — | ||||||||||||
| Marc Kavtelishvilli |
11,769 | 11,769 | — | — | ||||||||||||
| Talal Almalki |
11,769 | 11,769 | — | — | ||||||||||||
| Ean Chase |
11,769 | 11,769 | — | — | ||||||||||||
| Jordan Cox |
11,769 | 11,769 | — | — | ||||||||||||
| Dante Santana |
11,769 | 11,769 | — | — | ||||||||||||
| Daniel Paul Walsh |
11,769 | 11,769 | — | — | ||||||||||||
| Noam Elie Ackenine |
11,769 | 11,769 | — | — | ||||||||||||
| Kyle Jackson |
23,539 | 23,539 | — | — | ||||||||||||
| Nate Hill |
35,308 | 35,308 | — | — | ||||||||||||
| Mike Mezzatesta |
11,769 | 11,769 | — | — | ||||||||||||
| Ricardo Ramos |
2,354 | 2,354 | — | — | ||||||||||||
| Pedro Miguel Coimbra |
2,354 | 2,354 | — | — | ||||||||||||
| Mick Millar |
2,354 | 2,354 | — | — | ||||||||||||
| Larry Edward Darr III |
2,354 | 2,354 | — | — | ||||||||||||
| Jeremy Mink |
2,354 | 2,354 | — | — | ||||||||||||
| Isiah Ocasio-Pantoja |
2,354 | 2,354 | — | — | ||||||||||||
| Brian Joo |
2,354 | 2,354 | — | — | ||||||||||||
| Ted Marks |
23,539 | 23,539 | — | — | ||||||||||||
| Eric Almburg |
11,769 | 11,769 | — | — | ||||||||||||
| Jack Coston |
2,354 | 2,354 | — | — | ||||||||||||
| Casey Swanson |
2,354 | 2,354 | — | — | ||||||||||||
| Eric Rivera |
11,769 | 11,769 | — | — | ||||||||||||
| Ben Christensen |
11,769 | 11,769 | — | — | ||||||||||||
| Jeffersen Emann |
11,769 | 11,769 | — | — | ||||||||||||
| Kyler Murray |
53,342 | 53,342 | — | — | ||||||||||||
| Miles McCollum |
102,267 | 102,267 | — | — |
| Cordell Broadus |
31,501 | 31,501 | — | — | ||||||||||||
| Kiari Cephus p/k/a Offset |
145,862 | 145,862 | — | — | ||||||||||||
| Daniel Shribman(4) |
37,333 | 20,000 | 17,333 | * | ||||||||||||
| Nick Lewin(5)(6) |
17,038,805 | 20,000 | 17,018,805 | 23.5 | % | |||||||||||
| Angela Dalton(5) |
20,000 | 20,000 | — | — | ||||||||||||
| Mickie Rosen(5) |
20,000 | 20,000 | — | — | ||||||||||||
| Bruce Gordon(5) |
20,000 | 20,000 | — | — | ||||||||||||
| Paul Hamilton(5)(7) |
3,862,359 | 20,000 | 3,842,359 | 5.3 | % | |||||||||||
| Andre Fernandez(5) |
20,000 | 20,000 | — | — | ||||||||||||
| Calvin “Snoop Dogg” Cordozar Broadus Jr.(5)(8) |
319,264 | 20,000 | 299,264 | * | ||||||||||||
| Ross Levinsohn(9) |
37,333 | 20,000 | 17,333 | * | ||||||||||||
| Christoph Pachler(10) |
— | 186,667 | — | — | ||||||||||||
| Tamara Brandt(11) |
1,429,272 | 475,000 | 954,272 | 1.3 | % |
| * | Less than 1%. |
| 1. | Beneficial ownership and the percentage of Common Stock beneficially owned is computed on the basis of 72,506,849 shares of Common Stock outstanding as of November 30, 2022 and determined in accordance with the rules and regulations of the SEC. |
| 2. | Includes Common Stock issuable upon settlement of restricted stock awards and restricted stock units, and the exercise of stock options, including those that will vest more than 60 days from the applicable determination date. |
| 3. | Assumes that all of the shares of Common Stock held by each Selling Stockholder and being offered under this Reoffer Prospectus are sold, that shares of Common Stock beneficially owned by such Selling Stockholder on the applicable determination date but not being offered pursuant to this Reoffer Prospectus (if any) are not sold, and that no additional shares are purchased or otherwise acquired other than pursuant to the restricted stock awards, restricted stock units and stock options relating to the shares being offered. |
| 4. | Mr. Shribman is a director of the Company and was the Chief Executive Officer, Chief Financial Officer and a director of B. Riley Principal 150 Merger Corp. (“BRPM”) prior to the closing of the Company’s business combination in July 2022. Mr. Shribman is a member of B. Riley Principal 150 Sponsor Co. LLC but does not have voting or dispositive control over the shares held by such entity. Includes 4,333 shares of Common Stock underlying 4,333 private placement warrants. |
| 5. | This individual is a director of the Company. |
| 6. | Includes 9,951,359 shares held by CPH Phase II SPV LP and 7,067,446 shares held by CPH Phase III SPV LP. CPH Holdings VII, LLC is the sole general partner of each of CPH Phase II SPV LP and CPH Phase III SPV LP, and Nick Lewin is the sole manager of CPH Holdings VII, LLC. In such capacity, Mr. Lewin has sole voting and investment power over the securities held by CPH Phase II SPV LP and CPH Phase III SPV LP and therefore may be deemed to be the beneficial owner of such securities. With respect to the securities held by CPH Phase II SPV LP and CPH Phase III SPV LP, Mr. Lewin disclaims beneficial ownership, except to the extent of his pecuniary interest therein. The business address of CPH Phase II SPV LP and CPH Phase III SPV LP is 1230 Montana Avenue, Suite 201, Santa Monica, CA 90403. |
| 7. | Includes shares held directly by AEV Esports, LLC (“AEV”). Paul Hamilton is the President and Chief Executive Officer of AEV and may be deemed to share voting and dispositive control over the shares held by AEV. The business address of AEV is 2360 Corporate Circle Ste 330 Henderson, NV 89074. Cox Corporate Services, Inc. is the controlling member of AEV. Cox Corporate Services, Inc. is wholly owned by Cox Enterprises, Inc. Cox Enterprises, Inc. may be deemed to share beneficial ownership over the shares held by AEV. The address of the principal business office of Cox Corporate and Cox Enterprises is 6205 Peachtree Dunwoody Road, Atlanta, Georgia 30328. The principal business address for AEV is 6205 Peachtree Dunwoody Road, Atlanta, Georgia 30328. The business address of Mr. Hamilton is c/o AEV Esports, LLC, 6205 Peachtree Dunwoody Road, Atlanta, Georgia 30328. |
| 8. | Includes (i) 236,264 shares held by Spanky’s Clothing, Inc., (ii) 31,500 shares held by Boss Lady Entertainment Inc. and (iii) 31,500 shares held by SMAC Entertainment Inc. The business address of Spanky’s Clothing, Inc., Boss Lady Entertainment Inc. and SMAC Entertainment Inc. is c/o FaZe Holdings Inc., 720 N. Cahuenga Blvd., Los Angeles, CA 90038. |
| 9. | Mr. Levinsohn is a director of the Company and was a director of BPRM prior to the closing of the Company’s business combination in July 2022. Mr. Levinsohn is a member of B. Riley Principal 150 Sponsor Co. LLC but does not have voting or dispositive control over the shares held by such entity. Includes 4,333 shares of Common Stock underlying 4,333 private placement warrants. |
| 10. | Mr. Pachler is the Chief Financial Officer of the Company. |
| 11. | Ms. Brandt is the Chief Legal Officer of the Company. |