Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 11

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 11
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 with an initial principal amount of $2,900,000 (the “Initial Note”). Pursuant
to the PIPE Investor SPA, subject to certain conditions, either the Company or the Selling
Shareholders may require the issuance and sale of additional senior unsecured convertible
notes (the “Additional Notes” in the principal amount of $42,600,000, in the
aggregate, for a purchase price of $38,340,000). Pursuant to the PIPE Investor SPA, as amended
on August 26, 2025, the Company has agreed to issue and sell to PIPE Investor (i) an additional
Note in the original principal amount of $1,500,000 on the date of submission of this registration
statement by the Company to the SEC; and (ii) an additional Note in the original principal
amount of $1,030,000 upon effectiveness of this Registration Statement. The Initial Note
and the Additional Notes (collectively, the “Notes”) bear interest at a rate
of 6% and are payable in the Company’s ordinary shares provided certain conditions
are met. The maturity date of each Note is three years from the date of issuance of such
Note. In an Event of Default (as defined in the SPA), the interest rate of the Notes increase
to a default rate of 18%.

PIPE Investor has the option
of converting all or any portion of the Notes after the date of issuance and prior to the maturity date of the Notes. The number of Ordinary
Shares issuable upon conversion of the Notes is determined by dividing (i) the sum of (x) the portion of the principal amount to be converted,
redeemed, or otherwise with respect to which this determination is being made at a 10% premium, and (y) all accrued and unpaid interest
with respect to such principal amount and any accrued and unpaid late charges and such interest by (ii) a conversion price of $2.16,
subject to anti-dilution adjustments.

Private Placement of Ordinary Shares

Pursuant to a Subscription
Agreement dated August 22, 2025 with Teng Woo Boon (“Teng”), the Managing Director of Ban Leong, an indirect wholly-owned
subsidiary of the Company, the Company has agreed to sell and issue to Teng 625,000 ordinary shares at $4.00 per share, above the then
trading price of the ordinary shares, in a private placement.

Resale by Selling Shareholders pursuant to this prospect