Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 391

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 391
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0.0001 per share for
a total consideration of $20. The Company accounts for the fair value of the EBC Founder shares over consideration paid as offering cost
of the Initial Public Offering, with a corresponding credit to stockholder’s equity.

The Company estimated the
fair value of the EBC Founder Shares to be $519,415 and is recorded as an offering cost with a corresponding increase in stockholder’s
equity. The Company established the initial fair value of the EBC Founder Shares on April 12, 2021, using a probability weighted model
for the EBC Founder Shares. The EBC Founder Shares are classified 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