Company: GCL
Filing Date: 2025-07-08
Form Type: 424B3
Source: 0001213900-25-062059
Chunk: 19

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-08
Form: 424B3
Chunk 19
---
arrant Shares in accordance with           
 the intended method(s) of distribution thereof. If the Holder proposes to distribute its Warrant Shares through an Underwritten Offering          
 under this Section 5.2(a), it shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten 
 Offering by PubCo.                                                                                                                                |

<div align='center'>11</div>

| (b) | Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten                                         
 Offering that is to be a Piggyback Registration, in good faith, advises PubCo and the Holder participating in the Piggyback Registration    
 in writing that the dollar amount or number of Ordinary Shares that PubCo desires to sell, taken together with (i) Ordinary Shares, if      
 any, as to which Registration has been demanded pursuant to separate written contractual arrangements with persons or entities other than   
 the Holder hereunder (ii) the Warrant Shares as to which registration has been requested pursuant to Section 5.2 hereof, and (iii) Ordinary 
 Shares, if any, as to which Registration has been requested pursuant to separate written contractual piggy-back registration rights of      
 other stockholders of PubCo, exceeds the Maximum Number of Securities, then:                                                                |

| (i) | If the Registration is undertaken for PubCo’s account, PubCo shall include in any such Registration                                             
 (A) first, the Ordinary Shares or other equity securities that PubCo desires to sell, which can be sold without exceeding the Maximum           
 Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause           
 (A), the Ordinary Shares, if any, as to which Registration has been requested pursuant to written contractual piggy-back registration           
 rights of other stockholders of PubCo, which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent       
 that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the Warrant Shares of the Holder exercising 
 its rights to register its Warrant Shares pursuant to Section 5.2(a) hereof, which can be sold without exceeding the Maximum Number of          
 Securities;                                                                                                                                     |

| (ii) | If the Registration is pursuant to a request by persons or entities other than the Holder, then PubCo                                          
 shall include in any such Registration (A) first, the Ordinary Shares or other equity securities,