Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 193

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 193
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, except for shares subject to lock-up restrictions.

Sales of substantial amounts
of Ordinary Shares in the public market could adversely affect prevailing market prices of Ordinary Shares.

Lock-up Provisions

Lock-up Agreement

In connection with the Business
Combination, certain holders of the Company have agreed not to (i) sell, offer to sell, contract or agree to sell, assign, lend, offer,
encumber, donate, hypothecate, pledge, grant any option, right or warrant to purchase or otherwise transfer, dispose of or agree to transfer
or dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent
position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the Securities and Exchange Commission
promulgated thereunder, (a) any of Company’s ordinary shares, or (b) any securities convertible into or exercisable or exchangeable
for Company’s ordinary shares, in each case, held by him immediately after the Closing Date (the “Lock-up Shares”),
(ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any of the Lock-up Shares, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise or (iii)
publicly announce any intention to effect any transaction specified in clause (i) or (ii) (the actions specified in clauses (i)-(iii),
collectively, “Transfer”) until the earlier of (1) 12 months commencing from the Closing Date and (2) subsequent to the Mergers,
(x) the date on which the last sale price of the Company’s ordinary shares equals or exceeds $12.00 per ordinary shares of the
Company (as adjusted for share splits, share consolidations, share capitalizations, rights issuances, subdivisions, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30 trading day period commencing at least 150 days after the consummation
of the Business Combination, or (y) the date on which Company completes a liquidation, merger, share exchange, reorganization or other
similar transaction that results in all of Company’s shareholders having the right to exchange their ordinary shares for cash,
securities or other property (the “Lock-Up Period”). These lock-up restrictions can be waived by the Company at any time.

Mr. Jacky Choo See Wee