Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 199

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 199
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SHARES ELIGIBLE FOR FUTURE SALES</div>

As of the date of this prospectus, we have 126,276,372 Ordinary Shares
issued and outstanding. All of the Ordinary Shares issued in connection with the Business Combination are freely transferable by persons,
other than the Company’s affiliates, without restriction or further registration under the Securities Act, except for shares subject
to lock-up restrictions.

Sales of substantial amounts of Ordinary Shares in the public market could adversely affect prevailing market prices of Ordinary Shares.

Lock-up Provisions

Lock-up Agreement

In connection with, and as a condition to the consummation of, the Business Combination, the Sponsor and holders of at least 5% of GCL Global’s ordinary shares before the consummation of the Business Combination on a fully-diluted basis entered into lock-up agreements (the “Lock-Up Agreements”). Certain number of PubCo Ordinary Shares received by such shareholders are locked-up until the earlier of: (i) 12 months from the Closing Date and, (ii) subsequent to the Mergers, (a) the date on which the closing price of the PubCo Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share consolidations, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like), for any 20 Trading Days within any 30-Trading Day period commencing at least 150 days after the consummation of the Mergers, or (b) the date on which PubCo consummates a liquidation, merger, capital stock exchange, reorganization, or other similar transaction which results in all of PubCo’s shareholders having the right to exchange their PubCo Ordinary Shares for cash, securities or other property. These lock-up provisions can be waived at any time by the Company.

Registration Rights

Registration Rights Agreement.

In connection with, and as a condition to the consummation of, the Business Combination, PubCo, certain holders of GCL Global’s ordinary shares before the consummation of the Business Combination, and the Sponsor entered into a registration rights agreement, pursuant to which, among other things, PubCo agreed to provide such holders with certain rights relating to the registration for resale of the PubCo Ordinary Shares that they received in the Business Combination.

Escrow Provisions

Shares Escrow Agreement

On December 18, 2024, in connection with GCL Global’s acquisition of 20% of Nekcom’s