Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 182

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 182
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closing of the Business Combination, and for so long as the effective registration statement of which this prospectus forms a part is
available for use, Epicsoft Ventures and the Sponsor, collectively the beneficial owners of 83,456,793 Ordinary Shares, constituting approximately
66.1% of our issued and outstanding Ordinary Shares as of the date of this prospectus, can sell under this prospectus (assuming all Warrants
are exercised in full), up to 87,907,293 Ordinary Shares constituting approximately 69.6% of the issued and outstanding Ordinary Shares
as of the date of this prospectus and approximately 61.6% of the issued and outstanding Ordinary Shares (assuming all Warrants are exercised
in full). The lock-up restrictions can be waived by the Company at any time. Given the substantial number of Ordinary Shares being registered
for potential resale by the Selling Shareholders pursuant to this prospectus, the sale of shares by the Selling Shareholders, or the perception
in the market that the holders of a large number of our Ordinary Shares intend to sell their shares, could increase the volatility of,
or result in a significant decline in, the public trading price of the Ordinary Shares. These sales, or the possibility that these sales
may occur, and any related volatility or decrease in market price of the Ordinary Shares and Warrants, might materially and adversely
affect our ability to raise additional capital through the issuance of equity and/or debt securities in the future. See “Risk Factors - Risks Related to Ownership of Securities in the Company - Risks Related to Our Securities - Sales of a substantial number of our securities in the public market by our existing shareholders could cause the price of our Ordinary Shares and Warrants to fall, and certain Selling Shareholders can earn a positive rate of return on their investment, even if other shareholders experience a negative rate of return.”

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CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</div>

RFAC

Sponsor Founder Shares

On January 21, 2021, RFAC issued an aggregate of 2,875,000 Sponsor Founder Shares to the Sponsor in exchange for $25,000. The per share purchase price was approximately $0.009 per share. On March 30, 2022, in connection with the underwriters’ election to fully exercise their over- allotment option, an aggregate of 375,000 Sponsor Founder Shares were no longer subject to forfeiture. The Sponsor Founder Shares automatically converted into shares