Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 83

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 83
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.23 per share, for an aggregate redemption amount of approximately 
 $13,136,586 on September 23, 2024;                                                                                                        |

| (D) | Reflected the redemption of 1,522,973 shares of RFAC’s common                                                                             
 stock by RFAC’s stockholders at a redemption price of approximately $11.55 per share, for an aggregate redemption amount of approximately 
 $17,584,052 on January 23, 2025;                                                                                                          |

| (E) | Reflected additional excise tax accrued from above (C) and    
 (D) redemption of RFAC’s common stock by RFAC’s stockholders; |

| (G) | Reflected the withdrew from trust account for tax payment remittance; |

| (H) | Reflected the additional $170,460 non-interest bearing advances             
 from founder to support RFAC’s working capital subsequent to June 30, 2024; |

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| (J) | Reflected the issuance of $33,025,000 convertible notes (“Notes”)                                                               
 by GCL Global to certain accredited investors, and the conversion of the Notes into GCL Global’ s ordinary shares that would be 
 exchanged for Merger Consideration Shares upon the consummation of the Business Combination;                                    |

| (K) | Reflected the reclassification of cash held in the Trust Account,                                   
 net of Trust Account fee that becomes available for general use following the Business Combination; |

| (L) | Reflected the elimination of the historical accumulated deficit                                                                            
 of RFAC, the accounting acquiree, into GCL Global’s additional paid-in capital upon the consummation of the Business Combination; the      
 conversion of 3,075,000 RFAC Class A common stock, respectively, into RFAC single class common stock; and the issuance of 1,149,998 shares 
 of RFAC’s common stock from the conversion of 11,499,985 rights upon consummation of a Business Combination;                               |

| (M) | Reflected the elimination of deferred merger cost and deferred                                      
 offering costs liabilities between RFAC and GCL Global upon consummation of a Business Combination; |

| (N) | Reflected approximately $1.6 million reduction to the amount                                                                             
 due to Sponsor for the expenses in excess of the Maximum Allowable SPAC Transaction Expenses upon consummation of a Business Combination 
 pursuant to the Merger Agreement;