Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 57

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 57
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 sure that an active trading market will develop for the Ordinary Shares.

We are a newly formed entity
and prior to the Business Combination, we had not issued any securities in the U.S. markets nor had there been extensive information about
us, our businesses, or our operations publicly available. The listing of the Ordinary Shares on Nasdaq does not ensure that a market for
the Ordinary Shares will develop or the price at which the Ordinary Shares will trade. No assurance can be provided as to the demand for
or trading price of the Ordinary Shares.

Even if we are successful in
developing a public market, there may not be enough liquidity in such market to enable shareholders to sell their Ordinary Shares. If
an active trading market for the Ordinary Shares does not develop, investors may not be able to re-sell their Ordinary Shares, rendering
their shares illiquid and possibly resulting in a complete loss of their investment. We cannot predict the extent to which investor interest
in our company will lead to the development of an active, liquid trading market. The trading price of and demand for the Ordinary Shares
and the development and continued existence of a market and favorable price for the Ordinary Shares will depend on a number of conditions,
including the development of a market following, including by analysts and other investment professionals, our businesses, operations,
results and prospects, general market and economic conditions, governmental actions, regulatory considerations, legal proceedings and
developments or other factors. These and other factors may impair the development of a liquid market and the ability of investors to sell
shares at an attractive price. These factors also could cause the market price and demand for the Ordinary Shares to fluctuate substantially,
which may limit or prevent investors from readily selling their shares and may otherwise negatively affect the price and liquidity of
the Ordinary Shares. Many of these factors and conditions are beyond the control of us and shareholders.

Our share price may be volatile and could decline substantially.

The market price of our Ordinary
Shares may be volatile, both because of actual and perceived changes in our financial results and prospects, and because of general volatility
in the stock market. The factors that could cause fluctuations in our share price may include, among other factors discussed in this section,
the following:

| ● | actual or anticipated variations in the financial results and prospects of the company or other companies 
 in the gaming industry;                                                                                   |

| ● | changes in economic and financial market conditions; |

| ● | changes in the market valuations of other companies in the gaming industry; |

| ● |