Asian Tech Press (Oct 19) -- Asian game distributor and publisher GCL Asia will list on Nasdaq after completing a SPAC merger.

Grand Centrex Limited (GCL Asia) announced Wednesday that it has entered into a definitive business combination agreement with publicly traded special purpose acquisition company RF Acquisition Corp. (NASDAQ: RFAC) and RF Dynamic LLC.

Upon completion of the SPAC merger, GCL Asia will go public on Nasdaq under the ticker symbol "GCL".

The proposed deal values GCL Asia's pre-transaction equity at approximately $1.2 billion.

The transaction includes a minimum cash condition of $25 million and an estimated gross proceeds to GCL Asia of approximately $42.9 million.

Headquartered in Singapore, GCL Asia has been the exclusive distributor of 50% of the best-selling games in Asia since 2011.