GCL Subsidiary Makes Voluntary Conditional Cash Offer To Acquire Ban Leong Technologies, Stock Up

(RTTNews) - GCL Global Holdings Ltd (GCL), Wednesday announced that its subsidiary Epicsoft Asia Pte. Ltd. has made a voluntary conditional cash offer to acquire Ban Leong Technologies Limited, a computer hardware and IT accessories company, for S$0.6029 per share in cash.

The offer price, which is equivalent to $0.4580 per share, extends to the issued and paid-up ordinary shares, excluding treasury shares.

The transaction will be financed by a secured term loan facility provided by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, and cash on hand.

The company stated that the deal aligns with its strategy to deliver next-generation gaming experiences to the global gaming community while enhancing its business growth and profit margin profile.

Moreover, the deal is expected to have a positive impact on GCL's adjusted EBITDA.

Currently, GCL's stock is moving up 4.58 percent, to $2.48 on the Nasdaq.