Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 255

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 255
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$ per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to % of the greater
of the Market Value or the Newly Issued Price, and the $ per share redemption trigger price will be adjusted (to the nearest
cent) to be equal to % of the greater of the Market Value or the Newly Issued Price.

The summary of warrants
activity is as follows:

| March 31, 2023 |     | Warrants    
 Outstanding |          - |     | Ordinary Shares Issuable |          - |     | Weighted 
 Average  
 Exercise 
 Price    |     - |     | Average     
 Remaining   
 Contractual 
 Life        |    - |
|:---------------|:----|:------------|-----------:|:----|:-------------------------|-----------:|:----|:---------|------:|:----|:------------|-----:|
| Granted        |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Forfeited      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Exercised      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| March 31, 2024 |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Granted        |     |             | 16,500,000 |     |                          | 16,500,000 |     | $        | 11.50 |     |             | 5.00 |
| Forfeited      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Exercised      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| March 31, 2025 |     |             | 16,500,000 |     |                          | 16,500,000 |     | $        | 11.50 |     |             | 4.87 |

Note 20 — Income tax Cayman Islands GCL Global is incorporated in Cayman Islands and