Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 396

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 396
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 Memorandum and Articles of Association provide for indemnification and advancement of expenses for its current and former directors and officers to the fullest extent permitted under the laws of the Cayman Islands, in the absence of actual fraud or wilful default. The Company has entered into indemnification agreements with each director and officers of the Company.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

Item 7. Recent Sales of Unregistered Securities

In the past three years, GCL Global has issued the following securities that were not registered under the Securities Act. We believe that each of the following issuances was exempt from registration under the Securities Act in reliance on Regulation S under the Securities Act regarding sales by an issuer in offshore transactions, or pursuant to Section 4(a)(2) of the Securities Act regarding transactions not involving a public offering, or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701 promulgated under Section 3(b) of the Securities Act. None of these transactions involved any underwriters, underwriting discounts or commissions, or any public offering.

On December 18, 2024, GCL Global issued to Nekcom a total of 524,650 ordinary shares which were exchanged for a total of 2,126,728 PubCo ordinary shares at closing of the Business Combination. Between September and December 2024, GCL Global issued to certain accredited investors an aggregate of $33,025,000 convertible notes which converted into GCL Global’s fully paid and non-assessable ordinary shares and were exchanged for 9,540,552 PubCo ordinary shares. Of the 9,540,552 shares issued at Closing, 2,201,665 shares were “Bonus Shares” held in escrow for three (3) years from the Closing Date.

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Item 8. Exhibits and Financial Statement Schedules

| (a) | The                                                                  
 following exhibits are filed as part of this Registration Statement: |

| 2.1   |     | Agreement and Plan of Merger, dated as of October 18, 2023 (incorporated by reference to Exhibit 2.1 of the registrant’s registration statement on Form F-4 (File 333-280559