Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 92

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 92
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6% per annum, payable monthly, at GCL’s option, in cash or, provided that certain conditions are met, in ordinary shares.
The proceeds shall be used for general corporate and working capital purposes.

In connection with that certain Facility Letter dated as of October
1, 2024, as supplemented by the Supplemental Letter dated as of March 12, 2025 and July 7, 2025 between Epicsoft Asia Pte. Ltd. (the “Borrower”),
a wholly-owned subsidiary of GCL Global Holdings Ltd (the “Company” or “GCL”), and Oversea-Chinese Banking Corporation
Limited (“OCBC”) for a financing of up to SGD5,000,000 (the “Facility Agreement”), the Company issued to OCBC
a warrant (the “OCBC Warrant”) to purchase up to 899,281 ordinary shares of the Company (the “Warrant Shares”)
at an exercise price of US$4.17 per share (the “Exercise Price”) to meet one of the conditions precedent for the Borrower
to draw down funds under the Facility Agreement. The aggregate Exercise Price payable for the total number of Warrant Shares purchasable
under the OCBC Warrant shall be US$3,750,000, and shall first be used to repay all principal, interest and other amounts outstanding under
the Facility Agreement with the remainder, if any, for the Borrower’s working capital. The OCBC Warrant was issued in reliance upon
the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).
On July 29, 2025, the Company and OCBC entered into Amendment No. 1 to the Warrant (the “Amendment”) to clarify their commercial
understanding that none of the terms of the OCBC Warrant shall have any legal effect on the Borrower and/or the Company unless and until
the entire SGD 5,000,000 has been disbursed to the Borrower by OCBC under the Facility Agreement; and that OCBC will have no claims for
penalties, damages and legal remedies of any kind against either the Company or the Borrower for non-performance of any obligations under
the OCBC Warrant. The Amendment also provides that, among other things, until the full amount of SGD5,000,000 is disbursed by OCBC to
the Borrower pursuant to the Facility Agreement