Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 16

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 16
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 or the perception that those sales might occur, could result in
a significant decline in the public trading price of our Ordinary Shares and could impair our ability to raise capital through the sale
of additional equity securities. Because the prices at which certain Selling Shareholders acquired the securities that they may sell pursuant
to this prospectus may be lower than that of our public shareholders, certain Selling Shareholders may still experience a positive rate
of return on the securities that they sell pursuant to this prospectus, and be incentivized to sell such shares, when our public shareholders
may not experience a similar rate of return. Based on the closing price of our Ordinary Shares of $1.98 as of March 28, 2025, the Sponsor
(with respect to the Sponsor Founder shares) may experience potential profit of up to $1.971 per share, or an aggregate amount of profit
of up to approximately $5.7 million. Accordingly, such Selling Shareholders may have an incentive to sell their securities even if
the trading price is lower than the price at which our public shareholders purchased their securities. In connection with the initial
public offering of RFAC, RFAC’s initial public shareholders acquired RFAC Public Units at a price of $10.00 per unit, each of which
comprises one share of RFAC Common Stock, one RFAC Warrant and one RFAC Right, and trading price of our Ordinary Shares have fluctuated,
and may continue to fluctuate, following the closing of the Business Combination. Epicsoft Ventures (with respect to the shares issued
to Epicsoft Ventures in connection with the Business Combination) may experience potential profit if the price of the Company’s
Ordinary Shares exceeds $10.00 per share. As a result, our public shareholders may not be able to achieve the same returns as Epicsoft
Ventures, the Sponsor or EBC, or even any positive return at all, on the Ordinary Shares if they sell our Ordinary Shares in the market
at the then-prevailing market prices. See “Risk Factors - Risks Related to Our Securities - Sales of a substantial number of our securities in the public market by our existing shareholders could cause the price of our Ordinary Shares and Warrants to fall, and certain Selling Shareholders can earn a positive rate of return on their investment, even if other shareholders experience a negative rate of return.”

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Recent Developments Completion of Business Combination On February 13, 2025, we consummated the previously announced