RF Acquisition Corp. Approves Merger with GCL

Deal News | Jan 23, 2025 | EIN

RF Acquisition Corp. Approves Merger with GCL

RF Acquisition Corp., a special purpose acquisition company, has received shareholder approval for its business combination with GCL Global Limited, a leading video game distributor and publisher based in Asia. The approved merger, completed at a Special Meeting, is expected to close in the upcoming weeks. Upon closure, both RF Acquisition Corp. and GCL will become wholly-owned subsidiaries of GCL Global Holdings Ltd., with shares and warrants trading on Nasdaq under new symbols. The merger is anticipated to enhance GCL’s access to the U.S. public equity markets, supporting its growth and expansion strategies. Key players like Tse Meng Ng and Sebastian Toke from RF Acquisition Corp. and GCL respectively, express optimism about advancing GCL’s global visibility and leveraging its technological prowess in the gaming sector. The transaction also sees involvement from several legal advisories such as Winston & Strawn LLP and Loeb & Loeb, alongside financial advisors like Early Bird Capital Inc. The merger is set to boost GCL's presence, enhancing its game distribution across Asia and beyond, securing a foothold in new markets.

Sectors

  • Video Game Industry
  • Financial Services
  • Legal Services

Geography

  • Singapore – Both RF Acquisition Corp. and GCL are based in Singapore, making it the central geographical focus of the article.
  • United States – GCL's public listing on Nasdaq involves significant activity within the U.S. as they access public equity markets.

Industry

  • Video Game Industry – The article centers around GCL Global Limited, a major distributor and publisher of video games in Asia, merging with RF Acquisition Corp.
  • Financial Services – RF Acquisition Corp. operates as a special purpose acquisition company (SPAC), facilitating mergers and acquisitions in various sectors including the new economy sector in Southeast Asia.
  • Legal Services – The transaction involves legal advisory from firms like Winston & Strawn LLP and Loeb & Loeb, crucial for navigating the complexities of SPAC mergers and acquisitions.

Financials

    Participants

    NameRoleTypeDescription
    RF Acquisition Corp.Bidding CompanyCompanyA publicly traded special purpose acquisition company involved in the business combination with GCL Global Limited.
    GCL Global LimitedTarget CompanyCompanyA leading video game distributor and publisher in Asia, partnering with RF Acquisition Corp. to go public.
    Winston & Strawn LLPLegal AdvisorCompanyServed as legal counsel to RF Acquisition Corp.
    Loeb & LoebLegal AdvisorCompanyProvided U.S. legal counsel services to GCL Global Limited.
    Icon LawLegal AdvisorCompanyServed as Singapore legal counsel to GCL Global Limited.
    Early Bird Capital Inc.Financial AdvisorCompanyProvided financial advisory services to RF Acquisition Corp.
    Tse Meng NgChairman and CEOPersonChairman and CEO of RF Acquisition Corp., involved in the business combination with GCL.
    Sebastian TokeGroup CEOPersonGroup CEO of GCL Global Limited, overseeing its transformation into a publicly listed company.