Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 134

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 134
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 which
the Company or any Subsidiary (i) issues or sells any Ordinary Share Equivalents either (A) at a conversion, exercise or exchange rate
or other price that is based upon and/or varies with the trading prices of or quotations for the Ordinary Shares at any time after the
initial issuance of such Ordinary Share Equivalents, or (B) with a conversion, exercise or exchange price that is subject to being reset
at some future date after the initial issuance of such Ordinary Share Equivalents or upon the occurrence of specified or contingent events
directly or indirectly related to the business of the Company or the market for the Ordinary Shares, other than pursuant to a customary
“weighted average” anti-dilution provision or (ii) enters into any agreement (including, without limitation, an equity line
of credit or an “at-the-market” offering) whereby the Company or any Subsidiary may sell securities at a future determined
price (other than standard and customary “preemptive” or “participation” rights). Each Buyer shall be entitled
to obtain injunctive relief against the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition
to any right to collect damages. “Subsequent Placement” means any, direct or indirect, issuance, offer, sale, grant
of any option or right to purchase, or otherwise dispose of (or announcement of any issuance, offer, sale, grant of any option or right
to purchase or other disposition of) by the Company and/or any of its Subsidiaries of any equity security or any equity-linked or related
security (including, without limitation, any “equity security” (as that term is defined under Rule 405 promulgated under
the 1933 Act), any Ordinary Share Equivalents, any debt, any preferred shares or any purchase rights).

(o) .
At any time on or prior to the three (3) year anniversary of the later of (x) the Initial Closing Date (or, if later, sixty (60) Trading
Days after the date no Notes remain outstanding) and (y) the last Additional Closing Date hereunder, neither the Company nor any of its
Subsidiaries shall, directly or indirectly, effect any Subsequent Placement unless the Company shall have first complied with this Section
4(o). The Company acknowledges and agrees that the right set forth in this Section 4(o) is a right granted by the Company