Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 300

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 300
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 Digital are under the effective control of the same group of shareholders.

On
July 18, 2023, GCL Global SG completed the acquisition of 100% of the equity interests in Epicsoft Hong Kong Limited (“Epic
HK”), which was held under common control with GCL BVI. The transaction was executed with a consideration of HKD 10. GCL Global
SG and Epic HK are effectively controlled by the same shareholder.

—
Reorganization under GCL Global

GCL
BVI was incorporated on November 16, 2018, under the laws of British Virgin Island (“BVI”).

GCL
BVI is a holding Company and has no substantive operations other than holding all of the outstanding equity of Epic MY after reorganization
under GCL Global SG.

On
February 14 , 2024, GCL BVI and GCL Global had completed a sequential two-step transaction involving (a) sale by GCL BVI of
all its equity interests in GCL Global SG to GCL Global in return for GCL Global shares being issued to the GCL Shareholders (defined
below), resulting in (i) GCL Global SG becoming a wholly-owned subsidiary of GCL Global; and (ii) GCL Shareholders holding
all issued and outstanding shares in GCL Global; and (b) sale by GCL BVI shareholders holding a total of 99.8% of the total outstanding
shares of GCL BVI (“GCL Shareholders”) of their equity interests in GCL BVI to GCL Global, resulting in GCL BVI becoming
a 99.8%-owned subsidiary of GCL Global (the “Reorganization”).

<div align='center'>F-61

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Before
and after the Reorganizations, GCL Global, together with its subsidiaries (as indicated above), is effectively controlled by the major
shareholders, and therefore the Reorganization is considered as a recapitalization of entities under common control in accordance with
Accounting Standards Codification (“ASC”) 805-50-25. The consolidation of the Company and its subsidiaries have been accounted
for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the
first period presented in the accompanying unaudited condensed consolidated financial statements in accordance with ASC