Investor Presentaiton
TRANSACTION OVERVIEW(1)
Transaction Highlights
⚫ $173mm BPRM cash held in trust and expected $118mm PIPE will be
used to fund organic investment, support M&A, pay transaction expenses
and other general corporate purposes
Existing FaZe shareholders expected to roll 100% of their existing equity
into the combined company
• Transaction expected to close Q1 2022
Post-Transaction Ownership (2) (3)(4)
2.7%
11.9%
17.5%
67.9%
FaZe Existing Shareholders
BRPM Public Shareholders
PIPE Investors
BRPM Sponsor
Sources & Uses ($ in mm)
Valuation Analysis ($ in mm Except Share Price)
Sources (2)(3)(4)
Uses (2)(3)(4)
PF Shares Outstanding (4)
99
Transaction Ent. Val. Multiples
BRPM Cash in Trust (2)
$173
New Cash to Balance Sheet
$264
Illustrative Share Price
$10.00
2023E Revenue
3.8x
PIPE Proceeds (3)
118
FaZe Equity Rollover
670
FaZe Equity Rollover
670
Illustrative Fees & Expenses
PF Market Cap
$987
26
2024E Revenue
1.9x
Roll Net Cash on B/S
10
Roll Net Cash on B/S
10
PF Excess Cash
(274)
Total Sources
$971
Total Uses
$971
PF Enterprise Value
$713
2025E Revenue
1.1x
Assumes no SPAC IPO investors redeem shares for cash in trust. Cash in trust as of 6/30/2021.
(1)
Figures may not foot due to rounding.
(2)
(3)
Assumes $118mm PIPE.
39
(4)
Excludes 2.2mm BRPM shares subject to earn-out, vesting ratably at $12.00, $14.00, and $16.00. Excludes
seller earn-out of up to 6% of combined company shares, vesting ratably at $12.00, $14.00, and $16.00. Both
earn-outs subject to five-year period post-closing. Excludes the dilutive impact of 5.75mm public warrants and
0.17mm private placement warrants with an $11.50 exercise price. BRPM Sponsor includes 520k private
placement units.View entire presentation