BRIEF-GCL Asia To Go Public Via Merger With RF Acquisition

Oct 18 (Reuters) - RF Acquisition Corp:

* GCL ASIA, A LEADING VIDEO GAME PUBLISHER & DISTRIBUTOR IN ASIA, TO GO PUBLIC VIA MERGER WITH RF ACQUISITION CORP

* RF ACQUISITION CORP - PROPOSED TRANSACTION GIVES GCL APPROXIMATELY $1.2 BILLION IN PRE-TRANSACTION EQUITY VALUE

* RF ACQUISITION CORP: COMBINED COMPANY IS EXPECTED TO BE LISTED ON NASDAQ UNDER RESERVED TICKER SYMBOL "GCL "

* RF ACQUISITION CORP - GCL'S SHAREHOLDERS WILL RETAIN A MAJORITY OF COMBINED COMPANY'S OUTSTANDING SHARES

* RF ACQUISITION CORP - GCL WILL DESIGNATE A MAJORITY OF DIRECTOR NOMINEES FOR COMBINED COMPANY'S BOARD

* RF ACQUISITION CORP - TRANSACTION HAS BEEN APPROVED BY BOARD OF DIRECTORS OF GCL AND RF ACQUISITION

* RF ACQUISITION CORP - TRANSACTION CLOSING IS EXPECTED TO BE IN Q2 OF 2024

* RF ACQUISITION CORP - PROPOSED TRANSACTION INCLUDES A MINIMUM CASH CONDITION OF $25 MILLION

* RF ACQUISITION CORP - GCL'S EXISTING SHAREHOLDERS WILL ROLL OVER 100% OF EQUITY AND RETAIN A MAJORITY OF COMBINED COMPANY'S OUTSTANDING SHARES

* RF ACQUISITION CORP - GCL WILL ALSO DESIGNATE A MAJORITY OF COMBINED COMPANY'S BOARD OF DIRECTORS

* RF ACQUISITION CORP: COMBINED COMPANY WILL CONTINUE TO BE LED BY JACKY SEE WEE CHOO, GROUP CHAIRMAN OF GCL, SEBASTIAN TOKE, GROUP CEO OF GCL

* RF ACQUISITION CORP - PROPOSED TRANSACTION IS EXPECTED TO RESULT IN GCL RECEIVING GROSS PROCEEDS OF APPROXIMATELY $42.9 MILLION Source text for Eikon: Further company coverage: