Company: GCL
Filing Date: 2025-05-22
Form Type: 424B3
Source: 0001213900-25-046609
Chunk: 2

Company: GCL Global Holdings Ltd
Filing Date: 2025-05-22
Form: 424B3
Chunk 2
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A) the Conversion Amount being redeemed divided by (B) the Alternate Conversion Price (as defined in the Notes)
then in effect, multiplied by (2) the greatest closing price of the ordinary shares on any trading day during a measurement period specified
in the Note.

The
foregoing description of the terms of the SPA and the Notes does not purport to be complete and is qualified in its entirety by, the full
text of the SPA and the form of Note which are filed herewith as Exhibit 10.1 and 4.1, respectively, to this Current Report on Form 6-K
(the “Report”), and are incorporated herein by reference.

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Registration Rights Agreement

In
connection with the SPA, the Company and the Buyer entered into a Registration Rights Agreement pursuant to which the Company has agreed
to provide certain registration rights with respect to the Registrable Securities (which include Conversion Shares and is defined in the
Registration Rights Agreement) and file a registration statement with the SEC to register the Registrable Securities within twelve (12)
months from the date of Initial Closing (the “Initial Closing Date”), and to have such registration statement effective within
the earlier of the 15 month anniversary of the Initial Closing Date and the second business day after the date the Company
is notified by the SEC that such registration statement will not be reviewed or will not be subject to further review.

The
foregoing description of the Registration Rights Agreement does not purport to be complete and is qualified in its entirety by the terms
and conditions of the form of Registration Rights Agreement which is filed herewith as Exhibit 10.2 to this Report, and is incorporated
herein by reference.

Unregistered sale of securities

None of the securities sold
pursuant to the Securities Purchase Agreement have been registered under the Securities Act of 1933, as amended (the “Securities
Act’), and none may be offered or sold absent registration under the Securities Act or an exemption from such registration requirements.

On
May 22, 2025, the Company issued a press release relating to the transactions discussed in this Report and is furnished as Exhibit 99.1
to this Report and is incorporated herein by reference.

On
May 21, 2025, the Company issued a press relating to the launch of the game “JDM: Japanese Drift Master” and is furnished
as Exhibit 99.2 to this Report and is incorporated herein by reference.

Exhibit Index