Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 53

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 53
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 additions and departures of key personnel and senior management; |

| ● | changes in accounting principles; |

| ● | the passage of legislation or other developments affecting us or our industry; |

| ● | the trading volume of the Ordinary Shares in the public market; |

| ● | the release of lockup, escrow or other transfer restrictions on our                                                                    
 outstanding equity securities or sales of additional equity securities, including sales of ordinary shares being offered and sold from 
 time to time by the Selling Shareholders pursuant to this prospectus;                                                                  |

| ● | potential litigation or regulatory investigations; |

| ● | changes in financial estimates by research analysts; |

| ● | natural disasters, terrorist acts, acts of war or periods of civil unrest; and |

| ● | the realization of some or all of the risks described in this section. |

In addition, the stock markets have experienced significant price and trading volume fluctuations from time to time, and the market prices of equity securities of businesses in our and certain other industries may become extremely volatile and sometimes subject to sharp price and trading volume changes. These broad market fluctuations may materially and adversely affect the market price of the Ordinary Shares. 29 We may issue additional Ordinary Shares or other equity or convertible debt securities without approval of the holders of the Ordinary Shares, which would dilute existing ownership interests and may depress the market price of our Ordinary Shares. We may issue additional Ordinary Shares or other equity or convertible debt securities of equal or senior rank in the future without approval of the holders of the Ordinary Shares in certain circumstances. Our issuance of additional Ordinary Shares or other equity or convertible debt securities of equal or senior rank would have the following effects: (1) our existing shareholders’ proportionate ownership interest may decrease; (2) the amount of cash available per share, including for payment of dividends in the future, may decrease; (3) the relative voting power of each previously outstanding Ordinary Shares may be diminished; and (4) the market price of the Ordinary Shares may decline. The interests of the Selling Shareholders may not align with the interests of other shareholders. The Selling Shareholders may sell the ordinary shares (including the ordinary shares underlying the Notes) at any time, including during periods when our stock price is low or declining or during a period of market weakness. Such sales could cause further downward pressure on our share price, and the timing of these sales is outside of our control. ATW has acquired the Notes at a discount to market value and may seek to convert and resell the underlying Ordinary Shares for