Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 367

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 367
---
the “Extension Amendment Proposal”) to amend the Company’s
second 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 September 28, 2024 to March 28, 2025, composed of six monthly extensions after September 28, 2024, by depositing
into the Trust Account for each of the six monthly extensions, $0.03 for each share of Class A Common Stock not redeemed in connection
with the Extension Amendment Proposal, until March 28, 2025 in exchange for a non-interest-bearing, unsecured promissory note payable
upon consummation of a business combination. Also at the Special Meeting, stockholders of record were provided the opportunity to exercise
their redemption rights. Stockholders properly elected to redeem an aggregate of 1,170,280 Class A common stock at a redemption price
of approximately $11.23 per share. On September 25, 2024, a total of $13,136,586 in redemption payments were made in connection with this
redemption. Following the redemption, the Company had a total of 4,649,369 shares of Class A common stock outstanding. On September 30,
2024, the parties to the Merger Agreement entered into that certain Fourth Amendment to Merger Agreement (as clarified on October 15,
2024) pursuant to which the parties have agreed to, among other things, extend the deadline for the parties to complete the Business Combination
(as defined in the Merger Agreement) to March 28, 2025. GCL Global also agreed to pay
for up to six (6) months of extension fees starting September 28, 2024 and other third-party vendor expenses incurred by the Company in
connection with the Business Combination, for an aggregate of up to $500,000 (the “Amendment Expenses”), subject to a dollar-for-dollar
reduction to the Maximum Allowable SPAC Transaction Expenses (as such term is defined in the Merger Agreement) and reimbursement by the
Sponsor in the event that the Amendment Expenses paid exceeds five percent (5%) of the total amount of Transaction Financing (as defined
in the Merger Agreement) (not including the balance of the Trust Account) the Company has received from the Sponsor, its affiliate, or
any party introduced by the Sponsor to the Company that was not already known to the Company.

<div align='center'>F-103</div