Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 397

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 397
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 business combination. The Class A common stock issuable upon exchange of the rights
will be freely tradable (except to the extent held by affiliates of ours).

We will not issue fractional
shares in connection with an exchange of Public Rights. Fractional shares will either be rounded down to the nearest whole share or otherwise
addressed in accordance with the applicable provisions of the Delaware General Corporations Law, and any rounding down and extinguishment
may be done with or without any in lieu cash payment or other compensation being made to the holder of the relevant Public Rights. As
a result, you must hold rights in multiples of 10 in order to receive shares for all of your rights upon closing of a business combination.

If we are unable to complete
an initial business combination within the Combination Period and we liquidate the funds held in the trust account, holders of Public
Rights will not receive any of such funds for their Public Rights and the Public Rights will expire worthless.

NOTE 11. TAXES

|                                      |     | For the year 
 ended        | December 31, 
         2024 |   |     | For the year 
 ended        | December 31, 
         2023 |   |
|:-------------------------------------|:----|:-------------|-------------:|:--|:----|:-------------|-------------:|:--|
| Deferred tax assets:                 |     |              |            — |   |     |              |            — |   |
| Start-up costs                       |     | $            |      644,728 |   |     | $            |      420,391 |   |
| Total deferred tax assets            |     |              |      644,728 |   |     |              |      420,391 |   |
| Valuation Allowance                  |     |              |     (644,728 | ) |     |              |     (420,391 | ) |
| Deferred tax asset, net of allowance |     | $            |            — |   |     | $            |            — |   |

|                               |     | For the year 
 ended        | December 31, 
         2024 |   |     | For the year 
 ended        | December 31, 
         2023 |   |
|:------------------------------|:----|:-------------|-------------:|:--|:----|:-------------|-------------:|:--|
| Federal                       |     |              |            — |   |     |