Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 78

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 78
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 business into Latin America. In October 2024, 2Game Digital 
 DMCC (“2Game Dubai”) was formed in Dubai as a wholly-owned subsidiary of 2Game to expand its business into                           
 the UAE and MENA region.                                                                                                             |

| ● | Hainan GCL Technology Co. Ltd. (“Hainan GCL”) — formed                                                                
 in July 2024 in China to support GCL Group’s collaboration efforts with game developers and a game platform in China. |

48 Acquisition of Ban Leong Technologies Limited 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 and on August 28, 2025, changed its name to Ban Leong Technologies Pte. Ltd. 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 between 2.5% and 7.5%, and requires quarterly repayments, with the final installment due in July 2030. See “UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION,” “Ban Leong Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Ban Leong’s audited financial statements and notes thereto, presented in accordance with U.S. GAAP, which