Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 357

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 357
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7,500,000 in cash, and (b) $7,500,000 in GCL Global ordinary shares. On December 18,
2024, the Nekcom Publishing Agreement was signed, appointing 4Divinity as the exclusive global publisher and distributor of the game Showa American Story.

In connection
with the Nekcom SPA, 262,325 ordinary shares of GCL Global (the “Nekcom Consideration Shares”) and an additional 262,325 ordinary
shares of GCL Global (the “Nekcom Additional Consideration Shares”) were issued in the name of Nekcom on December 18,
2024 but held in escrow until Full Recoupment Date (as defined in the Publishing Agreement) when they will be released to either Nekcom
or the Company depending on the value of Nekcom Consideration Shares (the “Consideration Shares VWAP”) based on the volume
weighted average price of the Consideration Shares over thirty (30) trading days immediately preceding the Full Recoupment Date. If the
Consideration Shares VWAP exceeds $7,500,000, all Nekcom Consideration Shares will be released to Nekcom, and all Nekcom Additional Consideration
Shares will be returned to GCL Global for cancellation. In the event that the Consideration Shares VWAP is below $7,500,000 but exceeds
$1,200,000, Nekcom will receive such number of Nekcom Additional Consideration Shares from the escrow account that would make up the shortfall,
with the balance returned to the Company for cancellation. If the value of the Nekcom Additional Consideration Shares so released from
the escrow account is not sufficient to make up the shortfall, the Company has agreed to either pay Nekcom cash to make up the shortfall,
or issue additional shares to Nekcom and use its reasonable best efforts to register such shares for resale. If the Consideration Shares
VWAP is below $1,200,000, the Company has agreed to pay Nekcom the shortfall between $7,500,000 and the Consideration Shares VWAP in cash.
The Company recognized its 20% investment in Nekcom under the equity method. However, it does not have any impact on the Company’s
unaudited condensed consolidated financial statements as of September 30, 2024.

In February 2025, the Company has entered into amendment to Note Purchase Agreement (the “Am