Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 389

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 389
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 had not drawn on the BC Extension Note.

In addition, in order to finance
transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor or certain of
the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans.

<div align='center'>F-114</div>

NOTE 6. COMMITMENTS & CONTINGENCIES

Registration and Stockholder Rights

The holders of the Founder
Shares, Private Placement Warrants and any warrants that may be issued upon conversion of the Working Capital Loans (and in each case
holders of their component securities, as applicable) will be entitled to registration rights pursuant to a registration rights agreement
to be signed prior to or on the effective date of the Initial Public Offering, requiring the Company to register such securities for resale
(in the case of the Founder Shares, only after conversion to our Class A common stock). The holders of the majority of these securities
are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders
have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation
of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the
Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The Company has granted the
underwriter a 45-day option to purchase up to 1,500,000 additional Units to cover over-allotments, at the Initial Public Offering price
less the underwriting discounts and commissions.

On March 30, 2022, the
underwriter exercised their over-allotment option to purchase an additional 1,500,000 Units at $10.00 per Unit. The total underwriting
fee paid to the underwriter at the closing of the Initial Public Offering was $2,300,000.

Business Combination Marketing Agreement

On March 23, 2022, the
Company engaged EBC as an advisor in connection with a Business Combination to assist the Company in holding meetings with its stockholders
to discuss the potential Business Combination and the target business’ attributes, introduce the Company to potential investors
that are interested in purchasing the Company’s securities in connection with a Business Combination, assist the Company with its
press releases and public filings in connection with the Business Combination. The Company will pay EBC a cash fee