Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 295

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 295
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 to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. Item 7. Recent Sales of Unregistered Securities In the past three years, GCL Global has issued the following securities that were not registered under the Securities Act. We believe that each of the following issuances was exempt from registration under the Securities Act in reliance on Regulation S under the Securities Act regarding sales by an issuer in offshore transactions, or pursuant to Section 4(a)(2) of the Securities Act regarding transactions not involving a public offering, or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701 promulgated under Section 3(b) of the Securities Act. None of these transactions involved any underwriters, underwriting discounts or commissions, or any public offering. On December 18, 2024, GCL Global issued to Nekcom a total of 524,650 ordinary shares which were exchanged for a total of 2,126,728 PubCo ordinary shares at closing of the Business Combination. Between September and December 2024, GCL Global issued to certain accredited investors an aggregate of $33,025,000 convertible notes which converted into GCL Global’s fully paid and non-assessable ordinary shares and were exchanged for 9,540,552 PubCo ordinary shares. Of the 9,540,552 shares issued at Closing, 2,201,665 shares were “Bonus Shares” held in escrow for three (3) years from the Closing Date. Pursuant to a certain Marketing Services Agreement dated April 28, 2025 with a third-party vendor, the Company issued 41,853 ordinary shares valued at approximately $2.39 per share, the then prevailing trading price of the ordinary shares, to the vendor as compensation for the services rendered by the vendor under that agreement. On May 21, 2025, the Company entered into a securities purchase agreement (the “ATW SPA”) with ATW Partners (“ATW”) for the issuance of senior unsecured convertible notes, through a facility of up to $45.5 million. Pursuant to the ATW SPA, the Company has issued and sold to ATW an initial note in the aggregate original principal amount of $2,900,000, at a purchase price of $2,610,000 on May 22, 2025. Pursuant to the ATW SPA, as amended on August