Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 362

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 362
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, the Company is subject to all of the risks associated with emerging growth companies.

As of December 31, 2024, the
Company had not yet commenced any operations. All activities for the period from January 11, 2021 (inception) through December 31, 2024,
relates to the Company’s formation and the initial public offering (“the Initial Public Offering”) which is described
below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest.
The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.
The Company has selected December 31 as its fiscal year end.

The registration statement
for the Company’s Initial Public Offering was declared effective on March 23, 2022. On March 28, 2022, the Company consummated
the Initial Public Offering of 10,000,000 units (the “Units” and, with respect to the shares of Class A common stock
included in the Units sold, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $100,000,000, which is
described in Note 3.

Simultaneously with the closing
of the Initial Public Offering, the Company consummated (i) the sale of 4,050,000 warrants (the “Private Placement Warrants”)
at a price of $1.00 per Private Placement Warrant in a private placement to RF Dynamic LLC (the “Sponsor”), generating gross
proceeds of $4,050,000, which is described in Note 4, and (ii) the sale of 500,000 Private Placement Warrants at a price of $1.00
per Private Placement Warrant in a private placement to EBC, generating gross proceeds of $500,000.

On March 30, 2022, the
underwriter exercised their over-allotment option, resulting in an additional 1,500,000 Units issued for an aggregate amount of $15,000,000.
In connection with the underwriter’s exercise of their over-allotment option, the Company also completed the private sale of an
aggregate of (i) 400,500 Private Placement Warrants to the Company’s Sponsor, at a purchase price of $1.00 per Private Placement
Warrant, generating gross proceeds of $400,500, and (ii) 49,500 Private