Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 185

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 185
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 GCL BVI and Epicsoft Asia loaned Mr. Choo an aggregate amount of $1,935,438 all of which was repaid in full on November 23, 2023.

In addition, Mr. Choo entered into a supply of accommodation agreement with Epicsoft Asia on June 14, 2023. Pursuant to the agreement, Choo See Wee is required to locate and work at 10 Coronation Road, Singapore 269414 for the period from June 15, 2023 to June 14, 2025. Approximately $14,168 was deducted from Mr. Choo’s monthly salary for the supply of the accommodation.

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From time to time, Mr. Choo was required to provide personal guarantee to certain bank loans and trust receipt financings of the Company.
As of September 30, 2024, Mr. Choo has provided personal guarantee for an aggregate amount of approximately $9.1 million of the Company’s
outstanding indebtedness, at interest rates ranging between 2.5% and 6.1%.

Registration Rights Agreement

At the Closing, we entered into a registration rights agreement (the “Registration Rights Agreement”) with certain the Sponsor, EBC and Epicsoft Ventures with respect to Ordinary Shares received by such holders in exchanged for certain securities (including the founder shares, private placement warrants and merger consideration shares) at the Closing. The Registration Rights Agreement provides certain demand registration rights and piggyback registration rights to such holders, subject to underwriter cutbacks and issuer blackout periods. We agree to pay certain fees and expenses relating to registrations under the Registration Rights Agreement. For details of the Registration Rights Agreement, see Exhibit 10.1 to the registration statement of which this prospectus forms a part.

Lock-Up Agreement

At the Closing, certain holders of GCL Global’s ordinary shares before the consummation of the Business Combination and the Sponsor executed a lock-up agreement (the “Lock-Up Agreement”). Pursuant to the Lock-Up Agreement, such holders agree, subject to certain customary exceptions, not to Transfer (as defined therein) certain number of PubCo Ordinary Shares until the earlier of (i) the date that is 12 months following the Closing Date, and (ii) subsequent to the Mergers, (a) the date on which the last sale price of the PubCo Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share consolidations, share capital