Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 182

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 182
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 earlier of (1) 12 months commencing from the Closing Date and (2) subsequent to the Mergers, (x) the
date on which the last sale price of the ordinary shares of PubCo equals or exceeds $12.00 per ordinary shares of PubCo (as adjusted
for share splits, share consolidations, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and
the like) for any 20 trading days within any 30 trading day period commencing at least 150 days after the consummation of the Business
Combination, or (y) the date on which PubCo completes a liquidation, merger, share exchange, reorganization or other similar transaction
that results in all of PubCo’s shareholders having the right to exchange their ordinary shares of PubCo for cash, securities or
other property (the “Lock-Up Period”). These lock-up restrictions can be waived by the Company at any time.

Mr. Jacky Choo See Wee,
our Group Chairman of the Board and Ms. Catherine Choo See Ling, our Chief Operating Officer and director, holds 98% and 1% of Epicsoft
Ventures Ltd. (“Epicsoft Ventures”), respectively. All 80,581,793ordinary shares held by Epicsoft Ventures are subject to
the 12-month Lock-Up Period pursuant to a lock-up agreement between the Company and Epicsoft Ventures dated February 13, 2025.

Tse Meng Ng is a director
of the Company and the sole member and manager of RF Dynamic LLC (“RF Dynamic”). All 7,325,500 ordinary shares beneficially
owned by RF Dynamic are subject to the 12-month Lock-Up Period pursuant to a lock-up agreement between the Company and RF Dynamic dated
February 13, 2025.

Subscription Agreement

Pursuant to a Subscription
Agreement dated August 22, 2025 with Ronald Teng (“Teng”), the Managing Director of Ban Leong Technologies Limited, an indirect
wholly-owned subsidiary of the Company, the Company has agreed to sell and issue to Teng 625,000 ordinary shares at $4.00 per share, above
the then trading price of the ordinary shares, in a private placement.

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DESCRIPTION OF SECURITIES</div>

GCL Global Holdings Ltd
is a Cayman Islands company incorporated with limited liability and our affairs are governed by the provisions of its Amended and Restated
Mem