Welcome to our dedicated page for RF Acquisition news (Ticker: RFAC), a resource for investors and traders seeking the latest updates and insights on RF Acquisition stock.
RF Acquisition Corp. (RFAC) is a Delaware-incorporated blank check company based in Singapore, formed to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Company communications highlight an intended search focus on target companies within the Southeast Asian new economy sector, while retaining flexibility to evaluate opportunities in other regions and industries.
The news flow around RF Acquisition Corp. is centered on its role as a special purpose acquisition company and its announced business combination with Grand Centrex Limited, also known as GCL or GCL Asia. Joint press releases describe GCL Asia as a video game distribution and publishing group in Asia, and outline a transaction that would result in GCL Asia becoming a publicly listed company on Nasdaq through a merger with RF Acquisition Corp.
Recent updates include the announcement that RF Acquisition Corp. stockholders approved the business combination with GCL Global Limited at a special meeting held on January 23, 2025. The same announcement notes that, subject to customary closing conditions, the business combination is expected to close in the weeks following that meeting, with each of GCL and RF Acquisition Corp. becoming a wholly owned subsidiary of GCL Global Holdings Ltd. and the combined company's ordinary shares and warrants expected to trade under the symbols "GCL" and "GCLW" on Nasdaq.
On this news page, readers can review coverage related to RF Acquisition Corp.'s SPAC activities, including announcements of the definitive business combination agreement with GCL Asia, shareholder approval milestones, and transaction-related disclosures that explain how the merger is intended to provide GCL with access to U.S. public equity markets.
RF Acquisition Corp. (RFAC) shareholders have approved the business combination with GCL Global , a leading Asian video game distributor and publisher. The merger is expected to close in the coming weeks, with both companies becoming subsidiaries of GCL Global Holdings . The Combined Company's ordinary shares and warrants will trade on Nasdaq under symbols 'GCL' and 'GCLW' respectively.
The transaction aims to provide GCL with access to U.S. public equity markets, accelerating its business expansion and exploring growth opportunities. GCL focuses on developing, publishing, and distributing games across Asia, leveraging its technological advantages and established distribution networks in fragmented markets. The company plans to use its public platform to elevate Asian-developed video games and content to the global market while delivering entertainment across devices and streaming platforms.
RF Acquisition Corp. (RFAC), a blank check company based in Singapore, has announced an updated per-share redemption price of approximately $11.24 for its public shares. This announcement comes ahead of the special meeting of stockholders scheduled for September 23, 2024. The redemption price aligns with the closing price of RFAC's Class A Common Stock on September 13, 2024.
RFAC, incorporated in 2021, aims to effect a business combination with one or more businesses, focusing on the Southeast Asian new economy sector or other global targets. The company's primary purpose is to pursue mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations.
Epicsoft Asia, a subsidiary of GCL Asia, and Wan Xin Culture Technology Company, a subsidiary of Wan Xin Media Group, have signed a Memorandum of Understanding (MoU) to invest over USD $100 million in a five-year collaboration. This collaboration focuses on intellectual property creation, game development, publishing, and studio acquisitions. A key element is the introduction of a real-time platform for managing digital game codes, expected to enhance efficiency and transparency in sales reporting. Additionally, a robust revenue optimization strategy aimed at combating piracy is projected to increase recovered revenues by 30%-40%. The partnership also plans to develop connected game toys, integrating physical and digital gaming experiences.
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