GCL Asia, A Video Game Publisher & Distributor In Asia, To Go Public Via Merger With RF Acquisition Corp; Expected To Be Listed On Nasdaw Under "GCL"; Proposed Transaction Gives CGL ~$1.2B In Pre-Transaction Equity Value
Portfolio Pulse from Benzinga Newsdesk
GCL Asia, a leading video game distribution and publishing group in Asia, is set to go public via a merger with RF Acquisition Corp. The combined company will be listed on Nasdaq under the ticker symbol 'GCL'. The proposed transaction gives GCL approximately $1.2 billion in pre-transaction equity value. GCL's shareholders will retain a majority of the combined company's outstanding shares. The transaction is expected to close in the second quarter of 2024.
October 18, 2023 | 12:28 pm
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RF Acquisition Corp is merging with GCL Asia, a leading video game distribution and publishing group in Asia. The combined company will be listed on Nasdaq under the ticker symbol 'GCL'. The transaction is expected to close in the second quarter of 2024.
The merger with GCL Asia could potentially increase the value of RF Acquisition Corp's shares due to the high pre-transaction equity value of GCL. However, the actual impact will depend on the market's reaction to the merger and the performance of the combined company post-merger.
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