Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 61

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 61
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 trading volume fluctuations from time to time, and the market prices of equity securities of businesses
in our and certain other industries may become extremely volatile and sometimes subject to sharp price and trading volume changes. These
broad market fluctuations may materially and adversely affect the market price of the Ordinary Shares.

Sales of a substantial number of our securities in the public market by our existing shareholders could cause the price of our Ordinary Shares and Warrants to fall, and certain Selling Shareholders can earn a positive rate of return on their investment, even if other shareholders experience a negative rate of return.

Sales of substantial amounts
of the Ordinary Shares and/or Warrants in the public market or the perception that these sales could occur, could adversely affect the
market price of the Ordinary Shares and Warrants and could materially impair our ability to raise capital through equity offerings in
the future.

Except for 80,581,793 Ordinary
Shares held by Epicsoft Ventures and 2,875,000 Ordinary Shares held by the Sponsor that are subject to lock-up restrictions, the Ordinary
Shares issued in connection with the Business Combination are freely tradable without restriction or further registration under the Securities
Act. This prospectus relates to, among other things, the issuance from time to time by us of up to 16,500,000 Ordinary Shares, which consist
of (i) 11,500,000 Ordinary Shares issuable upon the exercise of 11,500,000 Warrants, which were originally issued in the initial public
offering of RFAC and (ii) 5,000,000 Ordinary Shares issuable upon the exercise of 5,000,000 Warrants, which were originally issued as
RFAC Private Placement Warrants to the Sponsor and EBC.

This prospectus also relates
to the resale from time to time by the Selling Shareholders of (a) up to 83,456,793 Ordinary Shares, which consist of (i) 80,581,793 Ordinary
Shares issued to Epicsoft Ventures in connection with the Business Combination (as defined below) at an implied purchase price of $10.00
per share; (ii) 2,875,000 Ordinary Shares issued to the Sponsor, which were originally purchased by the Sponsor at approximately $0.009
per share; (b) up to 4,450,500 Ordinary Shares issuable upon the exercise of 4,450,500 Warrants, which were originally issued concurrently
with the initial public offering of RFAC in a private placement