Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 364

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 364
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 of the Investment Company Act, which invest only in direct U.S. government treasury
obligations, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution
of the Trust Account, as described below. In February of 2023 the Company’s trust balance was moved to an interest-bearing bank
deposit account.

On March 24, 2023, a special
meeting was held where the Company’s stockholders approved a proposal (the “Extension Amendment” or “Extension
Amendment Proposal”) to amend the Company’s amended and restated certificate of incorporation to give the Company the right
to extend the date by which it has to consummate a business combination from March 28, 2023 to December 28, 2023, composed of an initial
three-month extension and six subsequent one-month extensions, for a total of up to nine months after March 28, 2023, by depositing into
the Trust Account (A) for the initial three-month extension, the lesser of (i) $300,000 or (ii) $0.12 for each share of the Company’s
Class A Common Stock not redeemed in connection with the Charter Amendment Proposal, and (B) for each of the six subsequent one-month
extensions, the lesser of (i) $100,000 or (ii) $0.04 for each share of Class A Common Stock not redeemed in connection with the Extension
Amendment Proposal, until December 28, 2023 in exchange for a noninterest bearing, unsecured promissory note payable upon consummation
of a business combination. In connection therewith the stockholders of record were provided the opportunity to exercise their
redemption rights. Holders of 7,391,973 shares of Class A common stock exercised their right to redemption at a per share redemption price
of approximately $10.29. On April 3, 2023, a total of $76,054,240 in redemption payments were made in connection with this redemption.
Following the redemption, the Company had a total of 4,108,027 shares of Class A common stock outstanding.

<div align='center'>F-102</div>

On June 26, 2023, the Company’s
board of directors unanimously consented to the conversion of the Company’s shares of Class B common stock to shares of Class A common
stock on a one - for one basis. On June