GCL to Debut on Nasdaq Following Successful SPAC Merger
Deal News | Feb 16, 2025 | EIN
GCL Global Limited, an entertainment content provider in Asia, has successfully completed its merger with RF Acquisition Corp., a special purpose acquisition company. This transaction results in both entities becoming subsidiaries of GCL Global Holdings Ltd. Consequently, GCL has gone public, with its ordinary shares set to trade on the Nasdaq Global Select Market under the symbol GCL, while its warrants will trade on the Nasdaq Capital Market under GCLWW. The company celebrates this achievement by ringing the closing bell at Nasdaq on February 14, 2025. This milestone allows GCL to further its investments in technology and explore new high-margin sectors in the gaming market. Legal counsel and advisory roles were filled by Loeb & Loeb LLP, Winston & Strawn LLP, Early Bird Capital, and AMGM. The forward-looking statements in the press release indicate the combined company's optimistic projection of growth, with acknowledged risks and uncertainties.
Sectors
- Entertainment and Gaming
- Financial Services - SPAC
- Legal Services
Geography
- Singapore – Both GCL Global Limited and RF Acquisition Corp. are based in Singapore, indicating the primary business location.
- United States of America – The stocks of the combined company will trade on the Nasdaq, a major US-based stock exchange.
Industry
- Entertainment and Gaming – GCL Global Limited is a provider of games and entertainment content, emphasizing the expanding Asian gaming market.
- Financial Services - SPAC – RF Acquisition Corp. is a special purpose acquisition company, marking a financial event with the business combination.
- Legal Services – Advisors such as Loeb & Loeb LLP and Winston & Strawn LLP play roles in legal facilitation of the business combination.
Financials
- Not Specified – No specific financial values such as deal price or revenue are disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GCL Global Limited | Target Company | Company | A leading provider of games and entertainment content based in Asia. |
| RF Acquisition Corp. | Bidding Company | Company | A special purpose acquisition company looking to invest in the Southeast Asian new economy sector. |
| GCL Global Holdings Ltd. | Combined Company | Company | The holding company resulting from the merger of GCL and RF Acquisition Corp. |
| Jacky Choo | Group Chairman of GCL | Person | Chairman leading GCL during its Nasdaq listing milestone. |
| Sebastian Toke | Group CEO of GCL | Person | CEO of GCL focusing on expansion and revenue diversification. |
| Loeb & Loeb LLP | Legal Counsel to GCL | Company | Provided legal counsel to GCL and the Combined Company. |
| Winston & Strawn LLP | Legal Counsel to RFAC | Company | Provided legal counsel to RF Acquisition Corp. |
| Early Bird Capital | Financial Advisor | Company | Served as a financial advisor to RF Acquisition Corp. |
| AMGM | Advisor | Company | Am advisory firm that served GCL. |