Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 250

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 250
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 value of $$ 0.0001. On February 13, 2024, the Company completed its Reorganization under GCL Global with a sequential two-step transaction (see Note 1). On February 13, 2025, the Company completed its reverse recapitalization under Pubco through consummating the Business Combination contemplated by the Merger Agreement (See Note 3). All of the outstanding ordinary shares is presented on the basis as if the reverse recapitalization under Pubco became effective as of the beginning of the first period presented on April 1, 2022. The shares and corresponding capital amounts and all per share data related to GCL Global’s outstanding ordinary shares prior to the Reverse Recapitalization in the accompanying consolidated financial statements have been retroactively adjusted using the Exchange Ratio of 1for 4.0536. Settlement of Mezzanine Equity On November 22, 2023, 466,164ordinary shares subject to possible redemption in temporary equity were fully redeemed for cash consideration of $ 163,905. On February 13, 2025, 217,724ordinary shares were reclassified from mezzanine equity to permanent equity in connection with the settlement of the Tranche 1share consideration related to the acquisition of Martiangear (see Note 4). Settlement of Contingent Consideration from 2Game Acquisition On October 1, 2023, GCL Global issued shares to the individuals to settle tranche 3 of the contingent consideration in connection with the 2Game acquisition and such shares were exchanged for 82,696ordinary shares of the Company at the closing of the Business Combination. (See Note 4). F-44 GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

At the closing of the Business
Combination, the Company collectively issued additional ordinary shares of to the individuals to settle tranche 2 of the contingent
consideration in connection with the 2Game acquisition. (See Note 4).

Conversion of convertible notes

On February 13, 2025, convertible
notes in the aggregate principal amount of $ were converted into ordinary shares of the Company. In addition,
ordinary shares of the Company were issued and held in an escrow account for three years as Bonus Shares (See Note 16).

Stock based compensation

On November 8, 2022, the
Company entered into two separate SPAC listing consultancy agreements (collectively, the “Consultancy