Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 144

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 144
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 Articles of Association

The Memorandum and Articles
of Association of the Company were most recently amended and restated upon the closing of the Business Combination and are filed as Exhibit
1.1 to this Report. The description of the Amended and Restated Memorandum and Articles of Association of the Company is included in the
Form F-4 registration statement (333-280559).

C. Material Contracts

Note Purchase Agreements

From September 30, 2024 to December 2024, pursuant
to certain convertible note purchase agreements (as further amended on or about February 5, 2025, the “Note Purchase Agreements”),
GCL Global issued to certain accredited investors (the “Transaction Investors”) an aggregate of $33,025,000 convertible notes
which were exchanged for 9,540,552 shares of Merger Consideration Shares (as defined in the Merger Agreement) on February 13, 2025 upon
closing of the business combination. Of the 9,540,552 shares issued at Closing, 2,201,665 shares were “Bonus Shares” (as defined
in the Note Purchase Agreements) held in escrow for three (3) years from the Closing Date; and at the end of each of the first three anniversary
dates of the Closing Date, one-third (1/3) of the Bonus Shares shall be released from the escrow account to either the Transaction Investors
or to the Company for cancellation, based on the number of Merger Consideration Shares held by the Transaction Investors at the time. In
the event that the lowest volume-weighted average closing price of the Merger Consideration Shares is less than $4.50 per share for any
ten (10) consecutive trading days during the last month prior to the third anniversary day of the Conversion Date, the Transaction Investors
will be entitled to receive certain Top-Up Shares (defined in the Note Purchase Agreement) and, under certain limited circumstances, a
cash payment, based on the number of Merger Consideration Shares held on the third anniversary date of the Business Combination.

Nekcom SPA

(“Nekcom”), a Delaware
parent company of a developer of the game Showa American Story in China. In November 2024, GCL Global, Nekcom and certain
significant shareholders of Nekcom entered into a Series B Preferred Stock Purchase Agreement (the “Nekcom SPA”) pursuant
to which, among other things, (i) Nekcom entered