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Engine Media Holdings (MJ0) has issued an update.
FaZe Media Holdings, LLC, and its related entities have engaged in a significant stock transaction, selling over 5.7 million shares of their preferred stock to M40A3 LLC at $1.66 per share. The deal includes provisions for voting rights and additional purchase options, with half of the shares already transferred and the remainder expected to be completed by mid-August 2024. The agreement also outlines potential amendments to existing licensing arrangements should there be a change in voting control, demonstrating the strategic maneuvers taking place within the company’s structure.
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