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424B3

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.