Company: GAME
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004869
Chunk: 781

Company: GameSquare Holdings, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 781
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 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
to applicable withholding, (ii) each share of common stock, par value $0.001 per share, of Merger Sub that was issued and outstanding
immediately prior to the Effective Time was converted into one validly issued, fully paid and non-assessable share of common stock, par
value $0.001 per share, of FaZe Common Stock.

14

Treatment
of Equity Awards

In
addition, effective as of immediately prior to the Effective Time, all of the outstanding FaZe equity awards, including options to purchase
shares of FaZe Common Stock, each share of FaZe Common Stock subject to vesting, repurchase or other lapse of restrictions, and each
FaZe restricted stock unit convertible into shares of FaZe Common Stock, was assumed by GameSquare and converted into GameSquare equity
awards on substantially the same terms, except that the assumed equity awards will cover a number of shares of