Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 368

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 368
---
 voting
securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as
an investment company under the Investment Company Act 1940, as amended (the “Investment Company Act”). There is no assurance
that the Company will be able to complete a Business Combination successfully.

The Company will provide the
holders of the Public Shares (the “Public Stockholders”) with the opportunity to redeem all or a portion of their Public Shares
(as defined below) upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve
the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval
of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The Public Stockholders will
be entitled to redeem their Public Shares for a pro rata portion of the amount then held in the Trust Account (initially anticipated to
be $10.10 per Public Share).

If the Company seeks stockholder
approval, the Company will proceed with a Business Combination if a majority of the shares voted are voted in favor of the Business Combination.
The Company will not redeem the Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001. As of
December 20, 2023, the Company is no longer required to maintain a net tangible asset balance of at least $5,000,000. If a stockholder
vote is not required by law and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company
will, pursuant to its Certificate of Incorporation (the “Certificate of Incorporation”), conduct the redemptions pursuant
to the tender offer rules of the SEC and file tender offer documents with the SEC prior to completing a Business Combination. If, however,
stockholder approval of the transaction is required by law, or the Company decides to obtain stockholder approval for business or legal
reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant
to the tender offer rules. Additionally, each Public Stockholder may elect to redeem their Public Shares irrespective of whether they
vote for or against the proposed transaction.

If the Company seeks stockholder
approval in connection with a Business Combination, the initial stockholders (as defined below) have agreed to vote their Founder Shares