Carey Olsen Advised GCL Global On Merger With RF Acquisition Corp.
Carey Olsen Advised GCL Global On Merger With RF Acquisition Corp.
Carey Olsen’s corporate team in Singapore has acted as Cayman legal counsel to GCL Global Limited ("GCL"), a leading video game distributor and publisher in Asia, on its US$1.2 billion business combination with publicly traded special purpose acquisition company RF Acquisition Corp.
Following the merger, both entities became wholly-owned subsidiaries of GCL Global Holdings Ltd. As of 14 February 2025, the combined company’s ordinary shares commenced trading on the Nasdaq Global Select Market under the ticker symbol ‘GCL,’ while its warrants are listed on the Nasdaq Capital Market under ‘GCLWW.’
The proceeds from this transaction will enable GCL to accelerate its game publishing and IP management business, enhance its access to U.S. public equity markets, and expand its marketing reach with AAA/AA PC game titles.
Carey Olsen’s team, advising on all Cayman legal aspects of the deal, was led by Counsel Susan McKinstray and Partner Anthony McKenzie, with support from Counsel Maggie Yan. Loeb & Loeb LLP acted as U.S. legal counsel.
Commenting on the transaction, Counsel Susan McKinstray stated: "It is gratifying to have played a key role in this business combination, marking a significant milestone for GCL as Asia’s only full-suite gaming group. We look forward to seeing GCL’s continued growth as it expands its presence on a global scale."
Partner Anthony McKenzie added: "We are pleased to have advised GCL on this landmark transaction, which paves the way for new investment opportunities, game development initiatives, and expansion into the U.S. and European markets. This deal underscores our Singapore team’s expertise in advising major players in the Asian entertainment industry on high-profile international transactions."
