Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 63

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 63
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 Ordinary Shares in the public market by the Selling Shareholders and/or by our other existing shareholders, or the perception that
those sales might occur, could result in a significant decline in the public trading price of our Ordinary Shares and could impair our
ability to raise capital through the sale of additional equity securities. Because the prices at which certain Selling Shareholders acquired
the securities that they may sell pursuant to this prospectus may be lower than that of our public shareholders, certain Selling Shareholders
may still experience a positive rate of return on the securities that they sell pursuant to this prospectus, and be incentivized to sell
such shares, when our public shareholders may not experience a similar rate of return. Based on the closing price of our Ordinary Shares
of $1.98 as of March 28, 2025, the Sponsor (with respect to the Sponsor Founder shares) may experience potential profit of up to $1.971
per share, or an aggregate of up to approximately $6.1 million. Accordingly, such Selling Shareholders may have an incentive to sell
their securities even if the trading price is lower than the price at which our public shareholders purchased their securities. Holders
of Warrants may experience potential profit if the price of the Company’s Ordinary Shares exceeds $12.50 per share. In connection
with the initial public offering of RFAC, RFAC’s initial public shareholders acquired RFAC Public Units at a price of $10.00 per
unit, each of which comprises one share of RFAC Common Stock, one RFAC Warrant and one RFAC Right, and trading price of our Ordinary Shares
have fluctuated, and may continue to fluctuate, following the closing of the Business Combination. Epicsoft Ventures (with respect to
the shares issued to Epicsoft Ventures in connection with the Business Combination) may experience potential profit if the price of the
Company’s Ordinary Shares exceeds $10.00 per share. As a result, our public shareholders may not be able to achieve the same returns
as Epicsoft Ventures, the Sponsor or EBC, or even any positive return at all, on the Ordinary Shares if they sell our Ordinary Shares
in the market at the then-prevailing market prices.

Exercise of Warrants could increase the number of shares eligible for future resale in the public market and result in dilution to our shareholders.

As of the date of this prospectus,
there are 16,500,000 Warrants outstanding. Each Warrant entitles its holder to purchase one Ordinary