Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 94

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4A
Chunk 94
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Game. The 2Game SPA contains certain financial performance targets for 2Game over
the next three years starting and including fiscal year 2026. Pursuant to the terms of the 2Game SPA, in the event that 2Game fails to
generate at least $70,000,000 of revenue and net profit after tax of at least $2,500,000 during fiscal year 2026, the 2Game Sellers will
be required to buy back the Sale Shares for $1,272,000. In the event that the financial targets for fiscal year 2026 are met, GCL Global
SG will have the right to require the 2Game Sellers to buy back the Sale Shares for $1,272,000.

OCBC Warrant

In connection with that
certain Facility Letter dated as of October 1, 2024, as supplemented by the Supplemental Letter dated as of March 12, 2025 and July
7, 2025 between Epicsoft Asia Pte. Ltd. (the “ Borrower”), a wholly-owned subsidiary of GCL Global Holdings Ltd. (the
“ Company” or “ GCL”), and Oversea-Chinese Banking Corporation Limited (“ OCBC”) for a financing of
up to SGD5,000,000 (the “ Facility Agreement”), the Company issued to OCBC a warrant (the “ OCBC Warrant”) to
purchase up to 899,281 ordinary shares of the Company (the “ Warrant Shares”) at an exercise price of US$4.17 per share
(the “ Exercise Price”) to meet one of the conditions precedent for the Borrower to draw down funds under the Facility
Agreement. The aggregate Exercise Price payable for the total number of Warrant Shares purchasable under the Warrant shall be
US$3,750,000, and shall first be used to repay all principal, interest and other amounts outstanding under the Facility Agreement
with the remainder, if any, for the Borrower’s working capital. The Warrant was issued in reliance upon the exemption from
registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “ Securities Act”). On July 29,
2025, the Company and OCBC entered into Amendment No. 1 to the Warrant (the “ Amendment”) to clarify their commercial
understanding that none of the terms of the Warrant shall have any legal effect on the Borrower and/or the Company