Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 138

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 138
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BC will have no claims for
penalties, damages and legal remedies of any kind against either the Company or the Borrower for non-performance of any obligations under
the OCBC Warrant. The Amendment also provides that, among other things, until the full amount of SGD5,000,000 is disbursed by OCBC to
the Borrower pursuant to the Facility Agreement, (i) the OCBC Warrant shall not be capable of exercise of any kind, and shall remain
un-exercisable; and (ii) OCBC will have no rights to Piggyback Registration (as defined in the OCBC Warrant). Under the Amendment, the
Company will have six months from the date the full amount of SGD5,000,000 is disbursed to file a registration statement for the public
resale of all of the Warrant Shares (as defined in the OCBC Warrant). As of the date of this prospectus, no fund has been disbursed under
the Facility Agreement.

Acquisition of Ban Leong Technologies Ltd

On April 30, 2025, Epicsoft Asia (the “Offeror”) made a voluntary conditional cash offer (the “Offer”) of S$0.6029
per share (approximately US$0.4580 per share) to acquire all of the issued and paid-up ordinary shares in the capital of Ban Leong Technologies
Limited (“Ban Leong”), a Singaporean company listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”).
The Offer became unconditional on May 27, 2025. As the Offeror has received valid acceptances of more than 90% of the total number of
issued shares of Ban Leong, the Offeror exercised its right of compulsory acquisition under the Companies Act 1967 of Singapore. As of
the date of the prospectus, Ban Leong is a wholly-owned subsidiary of Epicsoft Asia Pte. Ltd. and effective August 26, 2025, Ban Leong
was officially delisted from the SGX-ST. Cash consideration of the Offer was financed through a combination of an approximately $38.7
million secured term loan facility provided by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (the “HSBC
term loan facility”) and approximately $10.0 million cash on hand from the Company. The HSBC term loan facility is secured by all
assets of GCL Global Pte Ltd, has a five-year term, bears a floating interest rate ranging