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FaZe Clan says it’s about to become a unicorn.

The esports and gaming media company announced plans Monday to combine with a special purpose acquisition company (SPAC) in a deal to become a publicly traded entity — giving it an implied value of $1 billion.

FaZe Clan, founded in 2010, said it combine with B. Riley Principal 150 Merger Corp. (BRPM), a blank-check company sponsored by an affiliate of B. Riley Financial. Estimated gross transaction proceeds will total $291 million, including $173 million in cash from BRPM’s IPO proceeds held in trust (assuming no redemptions), and $118 million from committed private investment in public equity (PIPE) investments.

Upon completion of the proposed merger, BRPM will change its name to “FaZe Holdings Inc.” The combined company’s common stock is expected to be listed on NASDAQ under the new ticker symbol “FAZE.”

“In our short history, we have evolved from a disruptive content generator to one of the world’s most decorated and successful esports franchises, and now into one of the younger generations’ most recognized and followed brands globally,” FaZe Clan CEO Lee Trink said in a statement.

L.A.-based FaZe Clan said it will use proceeds from the SPAC merger to fund “organic and inorganic growth,” suggesting it is looking at M&A deals, across content, gaming, entertainment and consumer products.

FaZe Clan claims to reach over 350 million followers across social platforms globally and that 80% of its audience is between the ages of 13-34. The company operates 10 competitive esports teams, which have won 30 championships worldwide to date.

Content produced by FaZe Clan includes video blogs, lifestyle and branded content, gaming highlights and livestreams of esports tournaments. The company boasts a roster of more than 85 esports pros and celebrities, including NFL star Kyler “FaZe K1” Murray, Lebron “FaZe Bronny” James Jr., Lil Yachty aka “FaZe Boat” and Offset aka “FaZe Offset.”

Upon closing, the combined company will be led by FaZe Clan’s Trink, who will also become chairman of the board; CFO Amit Bajaj; Kai Henry, chief strategy officer; and Tammy Brandt, chief legal officer.