Oct 25 (Reuters) - Online content and gaming platform FaZe Clan Inc said on Monday it would go public through a merger with a blank-check firm in a deal that values the combined company at about $1 billion.

Offerings from FaZe Clan, which was launched in 2010, include online gaming, esports, sports merchandise and digital content that targets millennial and Gen Z consumers. The company said it currently has more than 350 million users across its platforms.

In August, FaZe onboarded LeBron "Bronny" James Jr., son of basketball legend LeBron James. The video game enthusiast joined FaZe as a member and is expected to stream games for the organization.

In recent years, the company has received funding from e-commerce platform Ntwrk, media executive Jimmy Iovine, singer Pitbull, and counts athletes Kyler Murray and Ben Simmons among its content creaters.

FaZe has also partnered with major companies including McDonald's Corp and Verizon Communications to target young consumers.

The deal with B. Riley Principal 150 Merger Corp will provide $291 million to FaZe, including a private placement in public equity of $118 million, and gross proceeds of about $173 million from the special purpose acquisition company's (SPAC) IPO, assuming no redemptions.

When the deal closes, the new company, FaZe Holdings Inc, is expected to begin trading on the Nasdaq under the ticker symbol "FAZE."

A SPAC is a publicly-listed shell company that raises funds with the intention of merging with a private company within two years of floating their shares. The private firm goes public through the merger.

Over the past year, SPACs have emerged as Wall Street's hottest investment trend, but have lost their luster of late, as investors have been spooked by the poor financial performance of several SPACs and a regulatory crackdown led by the U.S. Securities and Exchange Commission over their disclosures.