Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 100

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 100
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 IP creation, game development, publishing opportunities exploration, and game studio acquisitions. Parties have also agreed to collaborate on strategies to combat privacy and unauthorized software use in the gaming industry, to develop connected game toys, and a digital platform that can provide real-time insights into consumer behavior, purchasing patterns, and market dynamics. In July 2024, Hainan GCL was formed in China as a wholly-owned subsidiary of GCL Global SG to support GCL Group’s collaboration efforts with Cube Game and game developers in China.

In September 2024, Hainan GCL made a secured loan in the aggregate amount of $3,000,000 to Nekcom Inc. (“Nekcom”), a Delaware parent company of a developer of the game Showa American Storyin China. In November 2024, GCL Global, Nekcom and certain significant shareholders of Nekcom entered into a Series B Preferred Stock Purchase Agreement (the “Nekcom SPA”) pursuant to which, among other things, (i) Nekcom has agreed to enter into a publishing agreement with GCL Global (the “Nekcom Publishing Agreement”) appointing the Company or any of its designated subsidiaries as Nekcom’s exclusive global publisher and distributor of Showa American Story; and (ii) the Company has agreed to purchase a number of Nekcom’s Series B Preferred Stock that would constitute 20% of the total outstanding shares of Nekcom for an aggregate purchase price of $15,000,000 consisting of (a) $7,500,000 in cash, and (b) $7,500,000 in GCL Global ordinary shares. On December 18, 2024, the Nekcom Publishing Agreement was signed, appointing 4Divinity as the exclusive global publisher and distributor of the game Showa American Story, and the $3,000,000 secured loan was converted into part of a minimum guarantee advanced by 4Divinity to Nekcom, recoverable from net revenue generated pursuant to the Nekcom Publishing Agreement. In connection with the Nekcom SPA, 262,325 ordinary shares of GCL Global (which were exchanged for 1,063,364 PubCo Ordinary Shares at Closing) (the “Nekcom Consideration Shares”) and an additional 262,325 ordinary shares of GCL Global (which were exchanged for 1,063,364 PubCo Ordinary Shares at Closing) (the “Nekcom Additional Consideration Shares”) were issued in the