Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 77

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 77
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 weighted average shares outstanding, Class A and Class B common shares, non-redeemable |     |              |  3,075,000 |   |     |              |             |   |     |             | 123,201,394 |   |     | -BB  |     |           | 126,276,372 |   |
| Basic and diluted net loss per share, Class A and Class B common shares, non-redeemable                  |     | $            |      (0.06 | ) |     |              |             |   |     |             |             |   |     |      |     | $         |       (0.25 | ) |
| Basic and diluted weighted average of ordinary shares outstanding                                        |     |              |            |   |     |              |  25,906,178 |   |     |             |             |   |     |      |     |           |             |   |
| Basic and diluted loss per share                                                                         |     |              |            |   |     | $            |       (0.05 | ) |     |             |             |   |     |      |     |           |             |   |

| (1) | Derived from the statement of operations of RFAC for the                                                                       
 year ended December 31, 2023. See RFAC’s financial statements and the related notes included elsewhere in the Company’s Annual 
 Report on Form 10-K filed on April 25, 2024.                                                                                   |

| (2) | Derived from the statement of operations and comprehensive loss                                                                  
 of GCL Global for the year ended March 31, 2024. See GCL Gloabl’s financial statements and the related notes appearing elsewhere 
 in the Company’s proxy statement on Form DEFM14A filed on December 31, 2024                                                      |

<div align='center'>44

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS</div>

Note 1 — Basis of Presentation

On February 13, 2025 (the
“Closing Date”), the Company consummated the previously announced Business Combination pursuant to the terms of the Merger
Agreement, by and among the Company, RFAC, Grand GCL BVI, GCL Global, and the Sponsor. Pursuant to the Merger Agreement: (a) Merger Sub
1 merged with and into GCL Global, with GCL Global continuing as the surviving entity in