Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 105

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 105
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 Shares) or any of its
Subsidiaries.

(iii) . All of such outstanding shares are duly authorized and have been, or upon issuance will be,
validly issued and are fully paid and nonassessable. sets forth the number of Ordinary Shares that are (A) reserved
for issuance pursuant to Ordinary Share Equivalents (other than the Notes) and (B) that are, as of the date hereof, owned by Persons who
are “affiliates” (as defined in Rule 405 of the 1933 Act and calculated based on the assumption that only officers, directors
and holders of at least 10% of the Company’s issued and outstanding Ordinary Shares are “affiliates” without conceding
that any such Persons are “affiliates” for purposes of federal securities laws) of the Company or any of its Subsidiaries.
To the Company’s knowledge, except as set forth in the SEC Documents, no Person owns 10% or more of the Company’s issued and
outstanding Ordinary Shares (calculated based on the assumption that all Ordinary Share Equivalents, whether or not presently exercisable
or convertible, have been fully exercised or converted (as the case may be) taking account of any limitations on exercise or
conversion (including “blockers”) contained therein without conceding that such identified Person is a 10% shareholder for
purposes of federal securities laws).

(iv) . Except as disclosed in the SEC Documents: (A) none of the Company’s or any Subsidiary’s assets,
shares, interests or share capital is subject to preemptive rights or any other similar rights or Liens suffered or permitted by the Company
or any Subsidiary; (B) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any shares, interests or share capital
of the Company or any of its Subsidiaries, or contracts, commitments, understandings or arrangements by which the Company or any of its
Subsidiaries is or may become bound to issue additional shares, interests or share capital of the Company or any of its Subsidiaries or
options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights
convertible into, or exercisable or exchangeable for, any shares