Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 194

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 194
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 of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, and in the event we do not so elect, we will use our best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

Redemption

Once the Warrants become exercisable, we may call the Warrants for redemption for cash:

| ● | in                     
 whole and not in part; |

| ● | at                           
 a price of $.01 per Warrant; |

| ● | upon                                                                              
 not less than 30 days’ prior written notice of redemption (the “30-day redemption 
 period”) to each warrant holder; and                                              |

| ● | if,                                                                                            
 and only if, the closing price of the common stock equals or exceeds $18.00 per share (as      
 adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and       
 the like and for certain issuances of Ordinary Shares and equity-linked securities for capital 
 raising purposes in connection with the closing of our Business Combination as described       
 elsewhere in this Annual Report) for any 20 trading days within a 30-trading day period ending 
 three business days before we send to the notice of redemption to the warrant holders.         |

If and when the Warrants become redeemable by us for cash, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under all applicable state securities laws.

We have established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the Warrant exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the Warrants, each warrant holder will be entitled to exercise his, her or its Warrant prior to the scheduled redemption date. However, the price of the Ordinary Shares may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like and for certain issuances of Ordinary Shares and equity-linked securities for capital raising purposes in connection with the closing of our Business Combination as described elsewhere in this Annual Report) as well as the $11.50 Warrant exercise price after the redemption notice is issued.

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Redemption procedures

If we call the Warrants for redemption as described above, our Management will have the option to require any holder that wishes to exercise