Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 84

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 84
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| (O) | Reflected the repayments of RFAC’s promissory note-related party 
 upon consummation of a Business Combination;                     |

| (P) | Reflected the settlement of approximately $1.6 million in total                                                                           
 transaction costs accrued by RFAC as of June 30, 2024, and additional approximately $7.0 million in transaction costs incurred subsequent 
 to June 30, 2024, through the consummation date of a Business Combination;                                                                |

| (Q) | Reflected the settlement of approximately $1.2 million in RFAC’s                    
 exercised tax payable balance at the consummation date of the Business Combination; |

| (R) | Reflected the settlement of approximately $1.6 million of total GCL Global’ s transaction                                       
 costs related to the Business Combination, of which, (1) approximately $0.2 million transaction costs accounted as expenses     
 subsequent to September 30, 2024 through the date of the consummation of a Business Combination, (2) approximately $0.2 million 
 transaction cost balance accrued as of September 30, 2024; and (3) approximately $1.2 million of transaction costs incurred     
 subsequent to September 30, 2024 and classified as an adjustment to GCL Global’ s additional paid-in capital at the time of     
 the consummation of a Business Combination;                                                                                     |

| (S) | Reflected the recapitalization of GCL Global through the issuance                   
 of 120,000,000 shares of PubCo with $0.0001 par value to GCL Global’s stockholders; |

| (T) | Reflected the stock compensation expenses of approximately $20                                                                              
 million in connection with the issuance of 2,000,000 PubCo Ordinary Shares to be issued at the Closing as an incentive to certain investors 
 in connection with sources of Transaction Financing, which such shares should not be subject to any lock-up period. Pursuant to the Merger  
 Agreement, PubCo’s obligation to issue the Incentive Shares at Closing was not conditioned on the Transaction Financing. This adjustment    
 was considered to be a one-time charge and did not expect to recur.                                                                         |

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| (U) | Reflected reclassification of 53,711 shares of GCL Global’               
 s ordinary share subject to possible redemption to permanent equity; and |

| (V) | Reflected reclassification