Company: GCL
Filing Date: 2025-02-20
Form Type: SCHEDULE 13D
Source: 0001213900-25-015788
Chunk: 0

Company: GCL Global Holdings Ltd
Filing Date: 2025-02-20
Form: SCHEDULE 13D
Chunk 0
---
 the prior written consent of the Issuer's board, not to:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
 (i) sell, offer to sell, contract or agree to sell, assign, lend, offer, encumber, donate, hypothecate, pledge, grant any option, right or warrant to purchase or otherwise transfer, dispose of or agree to transfer or dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, (a) any ordinary shares of the Issuer, or (b) any securities convertible into or exercisable or exchangeable for ordinary shares of the Issuer, in each case, held by him immediately after the Closing Date (the "Lock-up Shares"), (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the Lock-up Shares, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii) (the actions specified in clauses (i)-(iii), collectively, "Transfer") until the earlier of (1) 12 months commencing from the Closing Date and (2) subsequent to the Mergers, (x) the date on which the last sale price of the ordinary shares of the Issuer equals or exceeds $12.00 per ordinary shares of the Issuer (as adjusted for share splits, share consolidations, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 trading day period commencing at least 150 days after the consummation of the Business Combination, or (y) the date on which the Issuer completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of Issuer's shareholders having the right to exchange their ordinary shares of the Issuer for cash, securities or other property (the "Lock-Up Period"). 
 References to and descriptions of the Lock-Up Agreement herein are qualified in their entirety by reference to the form of Lock-Up Agreement filed as Exhibit 5 to this Statement and incorporated herein by reference.