Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 49

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 49
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is not required to file reports and financial statements with the SEC as frequently or as promptly as U.S. public companies whose securities
are registered under the Exchange Act. However, the Company is required to file with the SEC an Annual Report on Form 20-F containing
financial statements audited by an independent accounting firm. On December 31, 2024, the Company and RFAC furnished to its shareholders
a proxy statement/prospectus relating to the Business Combination. The SEC also maintains a website at www.sec.govthat contains
reports and other information that the Company files with or furnishes electronically to the SEC.

B. Business Overview

Prior to the Business Combination,
the Company did not conduct any material activities other than those incidental to its formation and the matters contemplated by the Merger
Agreement, such as the making of certain required securities law filings and the establishment of Merger Subs. Upon the Closing, the Company
became the direct parent of GCL Global, and conducts its business through GCL Global and GCL Global’s subsidiaries (together, the
“GCL Group”).

Overview

The Company, together with
the Group Subsidiaries (“GCL Group”), is a developer, distributor, marketer, and publisher of video games and
other entertainment content throughout Asia, Europe, the U.S. and Latin America. It sells and distributes to retailers and consumers in
Asia physical and digital copies of video games through physical retailers, such as Sony PlayStation stores in Japan, and online channels
in Singapore, Hong Kong, Malaysia, Japan, South Korea, Taiwan, Thailand, Indonesia, the Philippines and other Asian countries. Over 86.8%,
93.3% and 87.9% of our total consolidated revenue for the fiscal years ended March 31, 2025, 2024 and 2023, respectively, was derived
from the sale of either games on consoles such as Sony PlayStation, Microsoft Xbox, Nintendo Switch and personal computer (“PC”)
to retailers, or game activation keys (the so-called “game codes”) via electronic delivery to retailers or end-users through
email or download.

The Company has its own creative media design team with studio facilities to produce marketing and promotional materials adapted to local markets and develop original content as part of its content creation or marketing business. Partnering with international video game publishers and developers, the Company has an established track record of selling and marketing top-tier video game franchises such as Grand Theft Auto, Red Dead Redemption, Sonic the