Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 88

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 88
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 on the third anniversary
date of the Business Combination.

In December 2024 and April
2025, each of 4Divinity UK and 4Divinity JP was formed as a wholly-owned subsidiary of 4Divinity to support GCL Group’s game publishing
and development business in Europe and Japan, respectively.

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Pursuant to the Share Sale
and Purchase Agreement dated March 19, 2025 (the “2Game SPA”) by and among GCL Global SG and the 2Game Sellers, GCL Global
SG purchased from the 2Game Sellers 1,000 shares of 2Game (the “Sale Shares”) for $1,200,000, resulting in GCL Global SG
currently holding 61% equity interests of 2Game. The 2Game SPA contains certain financial performance targets for 2Game over the next
three years starting and including fiscal year 2026. Pursuant to the terms of the 2Game SPA, in the event that 2Game fails to generate
at least $70,000,000 of revenue and net profit after tax of at least $2,500,000 during fiscal year 2026, the 2Game Sellers will be required
to buy back the Sale Shares for $1,272,000. In the event that the financial targets for fiscal year 2026 are met, GCL Global SG will
have the right to require the 2Game Sellers to buy back the Sale Shares for $1,272,000.

On
May 21, 2025, the Company entered into a securities purchase agreement (the “PIPE Investor
SPA”) with PIPE Investor (the “Investor”) for the issuance of senior unsecured
convertible notes, through a facility of up to $45.5 million. Pursuant to the PIPE Investor
SPA, the Company has issued and sold to the Investor an initial note in the aggregate original
principal amount of $2,900,000, at a purchase price of $2,610,000 on May 22, 2025. Either
the Company or the PIPE Investor may require the issuance and sale of additional convertible
notes at one or more additional closings, with the aggregate original principal amount not
to exceed $42,600,000, at a purchase price of $38,340,000 under the facility, subject to
satisfaction of certain conditions specified in the PIPE Investor SPA. Pursuant