Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 394

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 394
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 notice of redemption to each warrant holder; |

| ● | if,                                                                                                                                         
 and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock             
 splits, stock dividends, reorganizations, and recapitalizations) for any 20 trading days within a 30-trading day period commencing          
 at any time after the warrants become exercisable and ending on the third trading day prior to the notice of redemption to warrant holders; 
 and                                                                                                                                         |

| ● | if,                                                                                                                                 
 and only if, there is a current registration statement in effect with respect to the shares of Class A common stock underlying such 
 warrants.                                                                                                                           |

If the Company calls the Public
Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on
a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of Class A common
stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization,
reorganization, merger or consolidation. However, except as described below, the warrants will not be adjusted for issuance of Class A
common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants.
If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in
the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution
from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire
worthless.

In addition, if (x) the
Company issues additional shares of Class A common stock or equity-linked securities, for capital raising purposes in connection
with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A common
stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors, and, in
the case of any such issuance to the Sponsor, our initial stockholders or such affiliates, without taking into account any founder shares
held by the Sponsor, initial stockholders or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”),
(y) the aggregate gross proceeds