Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 71

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 71
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 as a corporation for U.S. federal income    
 tax purposes) that is created or organized in or under the laws of the United States or any 
 State thereof or the District of Columbia;                                                  |

| ● | an                                                                                         
 estate the income of which is subject to U.S. federal income tax regardless of its source; 
 or                                                                                         |

| ● | a                                                                                           
 trust (i) the administration of which is subject to the primary supervision of a U.S. court 
 and which has one or more “United States persons” (within the meaning of Section            
 7701(a)(30) of the Code) who have the authority to control all substantial decisions of the 
 trust or (ii) that has made a valid election under applicable Treasury Regulations to be    
 treated as a United States person.                                                          |

If a partnership, including
for this purpose any entity or arrangement that is treated as a partnership for U.S. federal income tax purposes, holds Ordinary Shares,
the U.S. federal income tax treatment of a partner in such partnership will generally depend on the status of the partner and the activities
of the partnership. This discussion does not address the tax consequences to any such partner or partnership. A holder that is a partnership
and the partners in such partnership should consult their own tax advisors with regard to the U.S. federal income tax consequences of
the ownership and disposition of Ordinary Shares.

THIS SUMMARY DOES NOT PURPORT TO BE A COMPREHENSIVE ANALYSIS OR DESCRIPTION OF ALL POTENTIAL U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE OWNERSHIP AND DISPOSITION OF ORDINARY SHARES. IN ADDITION, THE U.S. FEDERAL INCOME TAX TREATMENT OF THE BENEFICIAL OWNERS OF ORDINARY SHARES MAY BE AFFECTED BY MATTERS NOT DISCUSSED HEREIN AND DEPENDS IN SOME INSTANCES ON DETERMINATIONS OF FACT AND INTERPRETATIONS OF COMPLEX PROVISIONS OF U.S. FEDERAL INCOME TAX LAW FOR WHICH NO CLEAR PRECEDENT OR AUTHORITY MAY BE AVAILABLE. HOLDERS SHOULD CONSULT WITH THEIR TAX ADVISORS REGARDING THE PARTICULAR TAX CONSEQUENCES TO THEM OF THE OWNERSHIP AND DISPOSITION OF ORDINARY SHARES, INCLUDING THE APPLICABILITY AND EFFECTS OF U.S. FEDERAL, STATE, LOCAL, AND OTHER TAX LAWS.

U.S. Federal Income Tax Treatment of PubCo

A corporation is generally
considered for U.S. federal income tax purposes to be a tax