Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 292

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 292
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com, recoverable from net revenue. The $3,000,000 loan from Hainan
GCL was converted into part of this minimum guarantee, serving to secure the financial commitments outlined in the publishing arrangement.

<div align='center'>F-55

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

In November 2024, GCL Global, Nekcom and certain
significant shareholders of Nekcom entered into a Series B Preferred Stock Purchase Agreement (the “Nekcom SPA”) pursuant
to which, among other things, (i) Nekcom has agreed to enter into a publishing agreement with GCL Global (the “Nekcom Publishing
Agreement”) appointing the Company or any of its designated subsidiaries as Nekcom’s exclusive global publisher and distributor
of Showa American Story; and (ii) the Company has agreed to purchase a number of Nekcom’s Series B Preferred Stock that would constitute
20% of the total outstanding shares of Nekcom for an aggregate purchase price of $15,000,000 consisting of (a) $7,500,000 in cash, and
(b) $7,500,000 in GCL Global ordinary shares. On December 18, 2024, the Nekcom Publishing Agreement was signed, appointing 4Divinity as
the exclusive global publisher and distributor of the game Showa American Story. In connection with the Nekcom SPA, 262,325 ordinary
shares of GCL Global (the “Nekcom Consideration Shares”) and an additional 262,325 ordinary shares of GCL Global (the “Nekcom
Additional Consideration Shares”) were issued in the name of Nekcom on December 18, 2024 but held in escrow until Full Recoupment
Date (as defined in the Publishing Agreement) when they will be released to either Nekcom or the Company depending on the value of Nekcom
Consideration Shares (the “Consideration Shares VWAP”) based on the volume weighted average price of the Consideration Shares
over thirty (30) trading days immediately preceding the Full Recoupment Date. If the Consideration Shares VWAP exceeds $7,500,000, all
Nekcom Consideration Shares will be released to Nekcom, and all Nekcom Additional Consideration Shares will be returned to GCL Global
for cancellation. In the event that