UPDATE – GCL and RF Acquisition Corp. Complete Business Combination, GCL to Commence Trading on Nasdaq Under Ticker “GCL” and Announces Bell Ringing to Commemorate Listing[...]

UPDATE - GCL and RF Acquisition Corp. Complete Business Combination, GCL to Commence Trading on Nasdaq Under Ticker "GCL" and Announces Bell Ringing to Commemorate Listing

SINGAPORE, Feb. 16, 2025 (GLOBE NEWSWIRE) -- GCL Global Limited ("GCL" or the "Company"), a leading provider of games and entertainment content based in Asia, today announced the successful completion of its business combination (the "Business Combination") with RF Acquisition Corp. (Nasdaq: RFAC) ("RFAC"), a special purpose acquisition company, resulting in each of GCL and RFAC becoming a wholly-owned subsidiary of GCL Global Holdings Ltd. ("GCL Group" or the "Combined Company"). On February 14, 2025, GCL Group's ordinary shares will commence trading on the Nasdaq Global Select Market under the trading symbol "GCL" and its warrants will trade on the Nasdaq Capital Market under the trading symbol "GCLWW."

"Completing the Business Combination and having our shares listed on the Nasdaq Global Select Market is a significant achievement for the GCL team, and we're grateful to our employees and partners who have supported us on this journey as we begin our next chapter as the only full-suite gaming group in Asia," said Jacky Choo, Group Chairman of GCL. "This milestone accelerates our ability to further invest in our technology, generate organic IP growth through game development, and explore other high margin segments within the gaming industry. We are excited to build on our strong foundation and look forward to capitalizing on growth opportunities aimed to generate substantial value for all stakeholders."

"Our Nasdaq listing marks a pivotal moment in GCL's history to create a one-stop solution for the development, publishing, marketing and distribution of games and services that bridge the dynamic Asian gaming market with the U.S. and Europe," said Sebastian Toke, Group CEO of GCL. "As a public company, GCL will continue to expand its global commercial efforts by further diversifying revenue sources. With our trusted industry partners and global distribution reach, we're well positioned to generate exciting new experiences for our users for years to come."

GCL will celebrate the public listing by ringing the closing bell at Nasdaq on Friday, February 14, 2025.

Advisors

Loeb & Loeb LLP served as legal counsel to GCL and the Combined Company. Winston and Strawn LLP served as counsel to RFAC. Early Bird Capital served as a financial advisor to RFAC. AMGM served as an advisor to GCL.

About GCL Global Ltd

GCL Global Limited unites people through games and entertainment experiences, enabling creators to deliver engaging content and fun gameplay experiences to the gaming communities worldwide, with a strategic focus on the rapidly expanding Asian gaming market.

The GCL team is driven by a bold vision to become a global leader with a diverse portfolio of exciting content available through both digital and physical formats. Its mission is to bridge cultures and audiences by introducing Asian-developed IP to a global audience across consoles, PCs and streaming platforms.

For more corporate and product information, please visit our website https://gcl.asia.

About RF Acquisition Corp.

RF Acquisition is a blank check company incorporated as a Delaware corporation whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While RF Acquisition may pursue an initial business combination target in any business, industry, or geographic location, it intends to search globally for target companies within the Southeast Asian new economy sector or elsewhere. RF Acquisition was incorporated in 2021 and is based in Singapore.