Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 389

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 389
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 into the Trust Account $225,000, which amount was provided
by the Sponsor from the funds granted in connection with the Director Promissory Note issued by Melvin Xeng Thou, for the initial three-month
extension. This amount is reflected as a liability within the Promissory note – related party line item of the accompanying balance
sheet.

On March 24, 2023, the Company
and Sponsor entered into a promissory note pursuant to which the Sponsor agreed to loan the Company the principal sum of $900,000 to cover
the extension payments in connection with the Revised Extension Deadline (the “Extension Promissory Note”). The promissory
note was non-interest bearing and is payable on the earlier of (1) December 28, 2023, or (ii) the consummation of the Business Combination.
As of December 31, 2024, the Company had not drawn on the Extension Promissory Note. Additionally, the Company and Sponsor entered into
a promissory note pursuant to which the Sponsor agreed to loan the Company the principal sum of $675,000 on December 26, 2023 to cover
the extension payments in connection with the updated Revised Extension Deadline (the “BC Extension Note”). The promissory
note was non-interest bearing and is payable on the earlier of (1) September 28, 2024, or (ii) the consummation of the Business Combination.
As of December 31, 2024, the Company had not drawn on the BC Extension Note.

In addition, in order to finance
transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor or certain of
the Company’s officers and directors may, but are not obligated to, provide the Company Working Capital Loans.

<div align='center'>F-114</div>

NOTE 6. COMMITMENTS & CONTINGENCIES

Registration and Stockholder Rights

The holders of the Founder
Shares, Private Placement Warrants and any warrants that may be issued upon conversion of the Working Capital Loans (and in each case
holders of their component securities, as applicable) will be entitled to registration rights pursuant to a registration rights agreement
to be signed prior to or on the effective date of the Initial Public Offering, requiring the Company to register such securities for resale
(in the case of the Founder Shares, only after conversion to our Class A common stock). The holders of the majority of these securities
are entitled to make up to