Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 82

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 82
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 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;                                                                                                        |

| (O) | Reflected the repayments of RFAC’s promissory note-related party 
 upon consummation of a Business Combination;                     |

| (P) | Reflected the settlement of approximately $1.6 million in total                                                                           
 transaction costs accrued by RFAC as of June 30, 2024, and additional approximately $7.0 million in transaction costs incurred subsequent 
 to June 30, 2024, through the consummation date of a Business Combination;                                                                |

| (Q) | Reflected the settlement of approximately $1.2 million in RFAC’s                    
 exercised tax payable balance at the consummation date of the Business Combination; |

| (R) | Reflected the settlement of approximately $1.6 million of total GCL Global’ s transaction                                       
 costs related to the Business Combination, of which, (1) approximately $0.2 million transaction costs accounted as expenses     
 subsequent to September 30, 2024 through the date of the consummation of a Business Combination, (2) approximately $0.2 million 
 transaction cost balance accrued as of September 30, 2024; and (3) approximately $1.2 million of transaction costs incurred     
 subsequent to September 30, 2024 and classified as an adjustment to GCL Global’ s additional paid-in capital at the time of     
 the consummation of a Business Combination;                                                                                     |

| (S) | Reflected the recapitalization of GCL Global through the issuance                   
 of 120,000,000 shares of PubCo with $0.0001 par value to GCL Global’s stockholders; |

| (T) | Reflected the stock compensation expenses of approximately $20                                                                              
 million in connection with the issuance of 2,000,000 PubCo Ordinary Shares to be issued at the