Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 386

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 386
---
 as Level 3 at the measurement date due to the use of unobservable inputs
including the probability of a business combination, the probability of the initial public offering, and other risk factors.

EBC (and/or its designees)
has agreed not to transfer, assign or sell any such shares without the Company’s prior written consent until the completion of the
Business Combination. In addition, EBC (and/or its designees) has agreed (i) to waive its redemption rights with respect to such
shares in connection with the completion of the Business Combination and (ii) to waive its rights to liquidating distributions from
the trust account with respect to such shares if the Company fails to complete the Business Combination within the Combination Period.

<div align='center'>F-115</div>

The shares have been deemed
compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness
of the registration statement pursuant to FINRA Rule 5110(g)(1). Pursuant to FINRA Rule 5110(g)(1), these securities will not
be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities
by any person for a period of 180 days immediately following the effective date of the registration statement, nor may they be sold,
transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the effective date of the registration
statement except to any underwriter and selected dealer participating in the offering and their bona fide officers or partners.

NOTE 7. STOCKHOLDERS’ DEFICIT

Preferred Stock —The
Company is authorized to issue 1,000,000 shares of preferred stock, par value $0.0001 per share, with such designations, voting and other
rights and preferences as may be determined from time to time by the Company’s board of directors. As of December 31, 2024
and December 31, 2023, there were no shares of preferred stock issued or outstanding.

Class A Common Stock - The Company is authorized to issue 380,000,000 shares of Class A common stock with a par value of $0.0001 per
share. On April 12, 2021, the Company issued to EBC and/or its designees an aggregate of 200,000 shares of Class A common stock
with a par value of $0.0001