Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 52

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 52
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 (the “ Company”
or “ GCL”), and Oversea-Chinese Banking Corporation Limited (“ OCBC”) for a financing of up to SGD5,000,000 (the
“ Facility Agreement”), the Company issued to OCBC a warrant (the “ OCBC Warrant”) to purchase up to 899,281 ordinary
shares of the Company (the “ Warrant Shares”) at an exercise price of US$4.17 per share (the “ Exercise Price”)
to meet one of the conditions precedent for the Borrower to draw down funds under the Facility Agreement. The aggregate Exercise Price
payable for the total number of Warrant Shares purchasable under the Warrant shall be US$3,750,000, and shall first be used to repay all
principal, interest and other amounts outstanding under the Facility Agreement with the remainder, if any, for the Borrower’s working
capital. The Warrant was issued in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of
1933, as amended (the “ Securities Act”). On July 29, 2025, the Company and OCBC entered into Amendment No. 1 to the Warrant (the “ Amendment”)
to clarify their commercial understanding that none of the terms of the Warrant shall have any legal effect on the Borrower and/or the
Company unless and until the entire SGD 5,000,000 has been disbursed to the Borrower by OCBC under the Facility Agreement; and that OCBC
will have no claims for penalties, damages and legal remedies of any kind against either the Company or the Borrower for non-performance
of any obligations under the Warrant. The Amendment also provides that, among other things, until the full amount of SGD5,000,000 is disbursed
by OCBC to the Borrower pursuant to the Facility Agreement, (i) the Warrant shall not be capable of exercise of any kind, and shall remain
un-exercisable; and (ii) OCBC will have no rights to Piggyback Registration (as defined in the Warrant). Under the Amendment, the Company
will have six months from the date the full amount of SGD5,000,000 is disbursed to file a registration statement for the public resale
of all of the Warrant Shares (as defined in the Warrant). As of the date of issuance of the consolidated financial
statements, no fund has been disbursed under the Facility Agreement.

Restr