GameSquare sells 25.5% stake in FaZe Media for $9.5M to entity controlled by FaZe Banks

GameSquare Holdings, Inc.

Purchase price $1.66/share; first tranche of 2,862,500 shares closed June 17, second expected by Aug 15, 2024.
GameSquare retains voting control for two years and will continue to consolidate FaZe Media's financials.
Purchaser has option to buy up to 3,230,556 additional shares at fair market value but not less than $2/share.
FaZe Media had revenue of $30.0M for year ended March 31, 2024; GameSquare also owns 100% of FaZe Esports.
Proceeds to be used for growth and working capital; GameSquare raised over $36M in non-dilutive capital from recent asset sales.

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