Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 393

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 393
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 LLC, the sole holder of Class B common stock, also consented to the
conversion of the Company’s Class B Common Stock to shares of Class A common stock on a one - for - one basis. On July 7, 2023,
the Company instructed its transfer agent to initiate the conversion of the shares of Class B common stock to shares of Class A common
stock. An aggregate of 2,875,000 shares of Class B common stock with a par value of $0.0001 per share was converted into 2,875,000 shares
of Class A common stock with a par value of $0.0001. Following, the Company had a total of 3,075,000 shares of Class A common stock outstanding.
As of December 31, 2024 and December 31, 2023, there were 0 shares of Class B common stock issued and outstanding.

<div align='center'>F-116</div>

Warrants —
Public Warrants may only be exercised for a whole number of shares. No fractional warrants will be issued upon separation of
the Units and only whole warrants will trade. The Public Warrants will become exercisable 30 days after the consummation of a Business
Combination. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or
liquidation.

The Company will not be obligated
to deliver any Class A common stock pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public
Warrant exercise unless a registration statement under the Securities Act covering the issuance of the Class A common stock issuable
upon exercise of the Public Warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying
its obligations with respect to registration. No warrant will be exercisable and the Company will not be obligated to issue shares of
Class A common stock upon exercise of a warrant unless Class A common stock issuable upon such warrant exercise has been registered,
qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants.

Once the warrants become exercisable,
the Company may redeem the Public Warrants:

| ● | in                     
 whole and not in part; |

| ● | at                            
 a price of $0.01 per warrant; |

| ● | at                                              
 any time after the warrants become exercisable, |

| ● | upon                                                                              
 not less than 30 days’ prior written