Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 382

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 382
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 trust account to repay such loaned amounts but no
proceeds from its Trust account would be used for such repayment.

Deferred Offering Costs

GCL Global Limited has agreed
to pay (i) any extension fees up to $100,000 per month on or after March 28, 2024, (ii) up to $100,000 for fees associated with the completion
of the Company’s December 31, 2023 Form 10-K and March 31, 2024 Form 10-Q, and (iii) up to an additional $25,000 for the June 30,
2024 Form 10-Q. GCL Global also agreed to pay for up to six (6) months of extension fees starting September 28, 2024 and other third-party
vendor expenses incurred by the Company in connection with the Business Combination, for an aggregate of up to $500,000 (the “Amendment
Expenses”), subject to a dollar-for-dollar reduction to the Maximum Allowable SPAC Transaction Expenses (as such term is defined
in the Merger Agreement) and reimbursement by the Sponsor in the event that the Amendment Expenses paid exceeds five percent (5%) of the
total amount of Transaction Financing (as defined in the Merger Agreement) (not including the balance of the Trust Account) the Company
has received from the Sponsor, its affiliate, or any party introduced by the Sponsor to the Company that was not already known to the
Company. As of December 31, 2024, the aggregated costs paid by GCL Global Limited amounted to $903,652, of which $638,924 relates
to extension fees to be settled upon the closing of an initial business combination.

<div align='center'>F-113</div>

Due to Sponsor

The Sponsor has paid expenses
on behalf of the Company prior to the Company’s Initial Public Offering and for working capital expenses. This amount is not interest
bearing and due on demand by the Sponsor. As of December 31, 2024, $1,545,279 was due to Sponsor, of which $330,000 relates to office
space, utilities and secretarial and administrative support provided by the Sponsor and the remaining was used for working capital expenses.
As of December 31, 2023, $1,392,629 was due to the Sponsor, of which $210,000 relates to office space, utilities and secretarial and administrative
support provided by the Sponsor the remaining was used for working capital