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- Grand Centrex Limited (GCL) said it will go public through a business combination with RF Acquisition Corp (NASDAQ:RFAC), and RF Dynamic LLC.
- The proposed deal gives GCL ~$1.2B in pre-transaction equity value.
- The deal includes a minimum cash condition of $25M and is expected that GCL will receive gross proceeds of ~$42.9M.
- After the closing of the deal, the combined company is expected to be listed on Nasdaq, under ticker symbol "GCL".
- The combined company will continue to be led by group chairman of GCL Jacky See Wee Choo and CEO Sebastian Toke, along with other executive leadership members.
- GCL's shareholders will have a majority of the combined company's shares.