Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 391

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 391
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 a period of 180 days immediately following the date of the effectiveness
of the registration statement pursuant to FINRA Rule 5110(g)(1). Pursuant to FINRA Rule 5110(g)(1), these securities will not
be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities
by any person for a period of 180 days immediately following the effective date of the registration statement, nor may they be sold,
transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the effective date of the registration
statement except to any underwriter and selected dealer participating in the offering and their bona fide officers or partners.

NOTE 7. STOCKHOLDERS’ DEFICIT

Preferred Stock —The
Company is authorized to issue 1,000,000 shares of preferred stock, par value $0.0001 per share, with such designations, voting and other
rights and preferences as may be determined from time to time by the Company’s board of directors. As of December 31, 2024
and December 31, 2023, there were no shares of preferred stock issued or outstanding.

Class A Common Stock - The Company is authorized to issue 380,000,000 shares of Class A common stock with a par value of $0.0001 per
share. On April 12, 2021, the Company issued to EBC and/or its designees an aggregate of 200,000 shares of Class A common stock
with a par value of $0.0001 per share. As of December 31, 2024 and December 31, 2023, there were 3,075,000 shares of Class A
common stock issued and outstanding, excluding 1,574,369 and 2,744,649 shares of Class A common stock subject to possible redemption
, respectively.

Class B Common Stock — The Company is authorized to issue 20,000,000 shares of Class B common stock with a par value
of $0.0001 per share. Holders of the Company’s common stock are entitled to one vote for each share, except that, prior to the completion
of a Business Combination, only holders of the Company’s Class B common stock have the right to vote on the election of directors.
On January 21, 2021, the Company issued 2,875,000 shares of Class B common