Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 379

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 379
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 subject to redemption upon the occurrence of uncertain events not solely within the Company’s
control) are classified as temporary equity. At all other times, Class A common stock are classified as stockholders’ equity. The
Company’s Class A common stock feature certain redemption rights that are considered to be outside of the Company’s control
and subject to the occurrence of uncertain future events. Accordingly, the Class A common stock is subject to possible redemption and
is presented as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet.

The Company recognizes changes
in redemption value immediately as they occur and adjusts the carrying value of redeemable common stock to equal the redemption value
at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected by charges
against additional paid in capital (to the extent available) and accumulated deficit.

<div align='center'>F-109</div>

At December 31, 2024,
the Class A common stock subject to possible redemption reflected in the balance sheet is reconciled in the following table:

| Class A common stock subject to possible redemption at December 31, 2022 |     | $ | 117,146,232 |   |
| Less:                                                                    |     |   |             |   |
| Stockholder redemption of 7,391,973 shares at redemption value           |     |   | (76,054,240 | ) |
| Stockholder redemption of 1,363,378 shares at redemption value           |     |   | (14,619,421 | ) |
| Add:                                                                     |     |   |             |   |
| Accretion of carrying value to redemption value                          |     |   |   3,056,238 |   |
| Class A common stock subject to possible redemption at December 31, 2023 |     | $ |  29,528,809 |   |
| Less:                                                                    |     |   |             |   |
| Stockholder redemption of 1,170,280 shares at redemption value           |     |   | (13,136,586 | ) |
| Add:                                                                     |     |   |             |   |
| Accretion of carrying value to redemption value                          |     |   |   1,646,341 |   |
| Class A common stock subject to possible redemption at December 31, 2024 |     | $ |  18,038,564 |   |

Net Income (