Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 59

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 59
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 of RFAC and (ii) 5,000,000 Ordinary Shares issuable upon the exercise of 5,000,000 Warrants, which were originally issued as
RFAC Private Placement Warrants to the Sponsor and EBC.

This prospectus also relates
to the resale from time to time by the Selling Shareholders of (a) up to 83,456,793 Ordinary Shares, which consist of (i) 80,581,793 Ordinary
Shares issued to Epicsoft Ventures in connection with the Business Combination (as defined below) at an implied purchase price of $10.00
per share; (ii) 2,875,000 Ordinary Shares issued to the Sponsor, which were originally purchased by the Sponsor at approximately $0.009
per share; (b) up to 4,450,500 Ordinary Shares issuable upon the exercise of 4,450,500 Warrants, which were originally issued concurrently
with the initial public offering of RFAC in a private placement to the Sponsor at a price of $1.00 per warrant, with each Warrant exercisable
for one Ordinary Share at $11.50 per share; and (c) up to 549,500 Ordinary Shares issuable upon the exercise of 549,500 Warrants, which
were originally issued concurrently with the initial public offering of RFAC in a private placement to EBC at a price of $1.00 per warrant,
with each Warrant exercisable for one Ordinary Share at $11.50 per share.

As of the date of this prospectus, our issued share capital consisted
of 126,276,372 Ordinary Shares and 16,500,000 Warrants.

In connection with the Business
Combination, holders of 1,522,973 shares of RFAC Common Stock exercised their right to redeem their shares for cash at a redemption
price of approximately $11.54 per share, for an aggregate redemption amount of $17.6 million, representing approximately 96.7% of the
total shares of RFAC Common Stock then held by public stockholders.

Upon expiration of a lock-up period which is twelve months after the
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