Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 22

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 22
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 result of the above transactions, the Company recorded a non-controlling interest in Faze Media, Inc. of $20,500,000, the sum of cash
consideration received, within the consolidated statements of stockholders’ equity.

Merger
Agreement

On
March 7, 2024 (the “Closing Date”), GameSquare Holdings, Inc., a Delaware corporation (and prior to the Domestication (as
defined below), a British Columbia corporation) (the “Company” or “GameSquare”), consummated the previously announced
merger (the “Closing”) of FaZe Holdings Inc., a Delaware corporation (“FaZe”), pursuant to that certain Agreement
and Plan of Merger, dated October 19, 2023 (as amended, the “Merger Agreement”), by and among the Company, FaZe and GameSquare
Merger Sub I, Inc., a Delaware corporation and wholly owned subsidiary of GameSquare (“Merger Sub”), as amended by that certain
First Amendment to Agreement and Plan of Merger, dated December 19, 2023, by and among the Company, FaZe and Merger Sub (the “Amendment
to Merger Agreement”). The consummation of the Merger involved (i) prior to the Closing, the continuance of GameSquare from the
laws of the Province of British Columbia to the laws of the State of Delaware so as to become a Delaware corporation (the “Domestication”)
and (ii) the merger of Merger Sub with and into FaZe, with FaZe continuing as the surviving corporation and wholly-owned subsidiary of
GameSquare (the “Merger”), as well as the other transactions contemplated in the Merger Agreement.

Merger
Consideration

At
the effective time of the Merger (the “Effective Time”): (i) each outstanding share of FaZe common stock, par value $0.0001
per share (the “FaZe Common Stock”) issued and outstanding immediately prior to the Effective Time (other than shares held
in treasury by FaZe or held directly by GameSquare or Merger Sub (which such shares were cancelled)) was converted into the right to
receive 0.13091 (the “Exchange Ratio”) of a fully paid non-assessable share of common stock, par value $0.0001 per share,
of GameSquare (the “GameSquare Common Stock”) and, if applicable, cash in lieu of fraction shares of FaZe Common Stock, subject