Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 202

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 202
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 issuer filed Form 20-F type information          
 with the SEC, which is expected to be filed promptly after completion of the Business Combination, 
 reflecting its status as an entity that is not a shell company.                                    |

Rule 701

In general, under Rule 701 of the Securities Act as currently in effect, each of the Company’s employees, consultants or advisors who purchases equity shares from PubCo in connection with a compensatory stock plan or other written agreement executed prior to the completion of the Business Combination is eligible to resell those equity shares in reliance on Rule 144, but without compliance with some of the restrictions, including the holding period, contained in Rule 144. However, the Rule 701 shares would remain subject to lock-up arrangements and would only become eligible for sale when the lock-up period expires.

<div align='center'>119

EQUITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</div>

The following table sets forth information regarding the beneficial ownership of our ordinary shares as of the date of the date of this prospectus by:

| ● | each                                                                                     
 person known by us to be the beneficial owner of more than 5% of our outstanding shares; |

| ● | each                                         
 of our executive officers and directors; and |

| ● | all                                              
 our executive officers and directors as a group. |

Beneficial ownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to, or the power to receive the economic benefit of ownership of, the securities. In computing the number of shares beneficially owned by a person and the percentage ownership of that person, shares that the person has the right to acquire within 60 days are included, including through the exercise of any option or other right or the conversion of any other security. However, these shares are not included in the computation of the percentage ownership of any other person.

The calculations in the table below are based on 126,276,372 ordinary
shares issued and outstanding as of the date of this prospectus.

| Name and Address of Beneficial Owner                               |     | Number of 
 Shares    |            |     | Percentage of 
 Class         |      |   |
| Five Percent or Greater Holders:                                   |     |           |            |     |               |      |   |
| Epicsoft Ventures Ltd.(1)                                          |     |           | 80,581,793 |     |               | 63.8 | % |
| Sega Corporation(2)                                                |