Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 196

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 196
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 Publishing Agreement). The date on which these shares will be released
to either Nekcom or the Company for cancellation will depend on the value of Nekcom Consideration Shares (the “Consideration Shares
VWAP”) based on the volume weighted average price of the Nekcom Consideration Shares over thirty (30) trading days immediately
preceding the Full Recoupment Date. At Closing on February 13, 2025, the Company and Continental Stock entered into a Shares Escrow Agreement
pursuant to which all of the 2,126,729 Nekcom Consideration Shares were held in escrow by Continental Stock as the escrow agent.

Bonus Shares Escrow Agreement

Pursuant to certain convertible
note purchase agreements dated between September 30 and December 30, 2024 (the “Note Purchase Agreements”), GCL Global issued
to certain accredited investors (the “Transaction Investors”) an aggregate of $33,025,000 convertible notes which converted
into GCL Global’s fully paid and non-assessable ordinary shares that were exchanged for an aggregate of 9,540,552 PubCo ordinary
shares in connection with the Business Combination. Of the 9,540,552 shares issued at Closing, 2,201,665 shares were “Bonus Shares”
(as defined in the Note Purchase Agreements) held in escrow for three (3) years from the Closing Date; and at the end of each of the
first three anniversary dates of the Closing Date, one-third (1/3) of the Bonus Shares shall be released from the escrow account to either
the Transaction Investors or to the Company for cancellation, based on the number of Merger Consideration Shares held by the Transaction
Investors at the time. At Closing on February 13, 2025, the Company and Continental Stock entered into a Bonus Shares Escrow Agreement
pursuant to which the Bonus Shares were held in escrow by Continental Stock as the escrow agent.

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Rule 144

Pursuant to Rule 144 under
the Securities Act (“Rule 144”), a person who has beneficially owned restricted the Company’s Ordinary
Shares or Warrants for at least six months would be entitled to sell their securities; provided that (i) such person is not deemed to
have been one of Company’s affiliates at the time of, or at any time during the three months preceding, a sale and (ii) Company
is