Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 13

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 13
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) an additional Note in the original principal amount of $1,500,000 on the date of submission of this registration statement by the
Company to the SEC; and (ii) an additional Note in the original principal amount of $1,030,000 upon effectiveness of this Registration
Statement. The Initial Note and the Additional Notes (collectively, the “Notes”) bear interest at a rate of 6% and are payable
in the Company’s ordinary shares provided certain conditions are met. The maturity date of each Note is three years from the date
of issuance of such Note. In an Event of Default (as defined in the SPA), the interest rate of the Notes increase to a default rate of
18%.

PIPE Investor has the option of converting all or any portion of the
Notes after the date of issuance and prior to the maturity date of the Notes. The number of Ordinary Shares issuable upon conversion of
the Notes is determined by dividing (i) the sum of (x) the portion of the principal amount to be converted, redeemed, or otherwise with
respect to which this determination is being made at a 10% premium, and (y) all accrued and unpaid interest with respect to such principal
amount and any accrued and unpaid late charges and such interest by (ii) a conversion price of $2.16, which conversion price is subject
to anti-dilution adjustments.

Private Placement of Ordinary Shares

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.

Resale by Selling Shareholders pursuant to this prospectus

This prospectus relates to the resale from time to time of up to 15,105,000
Shares, comprised of (i) up to 14,480,000 ordinary shares by PIPE Investor issuable upon the conversion of the Notes issued pursuant to
a securities purchase agreement between the Company and PIPE Investor dated as of May 21, 2025, and (ii) 625,000 ordinary shares by Teng.

Of the 15,105,000 Shares being registered for resale hereby, 14,480,000
ordinary shares are being registered pursuant to registration rights granted to PIPE