Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 205

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 205
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ers as contemplated by the Company’s Irrevocable Transfer Agent Instructions dated _________ __, 20__.

|     |                | Very truly yours,  |
|     |                | [ISSUER’S COUNSEL] |
|     |                | By:                |
| CC: | [LEAD BUYER]   |                    |
|     | [OTHER BUYERS] |                    |

EXHIBIT B

<div align='center'>SELLING SHAREHOLDERS</div>

The ordinary shares being
offered by the selling shareholders are those issuable to the selling shareholders upon conversion of the notes. For additional information
regarding the issuance of the notes, see “Private Placement of Notes” above. We are registering the ordinary shares in order
to permit the selling shareholders to offer the shares for resale from time to time. Except for the ownership of the notes issued pursuant
to the Securities Purchase Agreement, the selling shareholders have not had any material relationship with us within the past three years.

The table below lists the
selling shareholders and other information regarding the beneficial ownership (as determined under Section 13(d) of the Securities Exchange
Act of 1934, as amended, and the rules and regulations thereunder) of the ordinary shares held by each of the selling shareholders. The
second column lists the number of ordinary shares beneficially owned by the selling shareholders, based on their respective ownership
of ordinary shares and notes, as of ________, 2025, assuming conversion of the notes held by each such selling shareholder on that date
but taking account of any limitations on conversion set forth therein.

The third column lists the
ordinary shares being offered by this prospectus by the selling shareholders and does not take in account any limitations on conversion
of the notes set forth therein.

In accordance with the terms
of a registration rights agreement with the holders of the notes, this prospectus generally covers the resale of the sum of 100% of the
maximum number of ordinary shares issued or issuable pursuant to the notes, including payment of interest on the notes through the third
anniversary of the issuance date of such notes, in each case, determined as if the outstanding notes (including interest thereon) were
converted in full (without regard to any limitations on conversion contained in the notes, solely for the purpose of such calculation)
at the $[ ] floor price of the notes calculated as of the trading day immediately preceding the date this registration statement was initially
filed with the SEC. Because the