FaZe Holdings Inc.: Nasdaq/NYSE listing notice — FaZe Holdings terminates CEO Lee Trink; Nasdaq grants 180-day extension for bid price compliance

FaZe Holdings Inc.

Lee Trink terminated as CEO effective Sept 9, 2023; Board demanded and accepted his resignation from the Board on Sept 10.
Nasdaq granted additional 180-day compliance period until March 18, 2024 to regain minimum bid price of $1 per share.
Company previously failed to meet Bid Price Requirement as of March 23, 2023; original deadline was Sept 19, 2023.
Company intends to cure bid price deficiency by effecting a reverse stock split, if necessary.

item 3.01 item 5.02

Executive movements

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Departed

Lee Trink

Chief Executive Officer

FaZe Holdings Inc.

Effective: 2023-09-09
Filed: September 21, 2023, 7:59 PM ET

the Board of Directors of the Company (the “Board”) took action to terminate Lee Trink from his position as Chief Executive Officer of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

FaZe Holdings Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

notifying the Company that the Company’s common stock no longer met the Nasdaq requirement for continued listing on The Nasdaq Capital Market to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"). The Company was provided until September 19, 2023, to regain compliance with the continued

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Executive change SEC 8-K Item 5.02 confidence 0.95

Lee Trink was terminated as Chief Executive Officer at FaZe Holdings Inc..

Action: terminated
Role: Chief Executive Officer

Exact text from the filing

the Board of Directors of the Company (the “Board”) took action to terminate Lee Trink from his position as Chief Executive Officer of the Company, effective immediately.

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Source: SEC EDGAR

accession 0001213900-23-078415

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