Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 245

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 245
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2025, with early adoption permitted for entities that have adopted ASU 2020-06.
The Company is currently evaluating the impact of the update on the Company’s consolidated financial statements and related disclosures.

On November 4, 2024,
the FASB issued ASU No. 2024-03, Expense Disaggregation Disclosures (“ASU 2024-03”). ASU 2024-03 amends
ASC 220, Comprehensive Income to expand income statement expense disclosures and require disclosure in the notes to the financial statements
of specified information about certain costs and expenses. ASU 2024-03 is required to be adopted for fiscal years commencing
after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting the standard on the
Consolidated Financial Statements.

Except as mentioned above,
the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material
effect on the Company’s consolidated balance sheets, statements of operations and comprehensive income (loss) and statements of
cash flow.

Note 3 – Reverse recapitalization

On February 13, 2025 (the
“Closing Date”), the Company consummated the transactions contemplated by that certain agreement and plan of merger dated
October 18, 2023 (as amended on December 1, 2023, December 15, 2023, January 31, 2024, and September 30, 2024, the “Merger Agreement”),
entered by and among (i) the Company, (ii) RFAC, (iii) GCL BVI, (iv) GCL Global, and, (v) Sponsor. Pursuant to the Merger Agreement,
the Company formed two wholly-owned subsidiaries for the purpose of participating in the contemplated transactions: (i) a Cayman Islands
exempted company limited by shares (“Merger Sub 1”), and (ii) a Delaware corporation (“Merger Sub 2”).
Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Merger Agreement. On the Closing
Date, pursuant to the Merger Agreement: (a) Merger Sub 1 merged with and into GCL Global, with GCL Global continuing as the surviving
entity in the merger (the “Initial Merger”), as a result of which: (i) GCL Global became a wholly-owned subsidiary of the
Company