Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 39

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 39
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 of our securities then outstanding. In addition, we may incur substantial
costs in pursuing future capital financing, including investment banking fees, legal fees, accounting fees, securities law compliance
fees, printing and distribution expenses and other costs. We may also be required to recognize non-cash expenses in connection with certain
securities we issue, such as convertible notes and warrants, which may adversely impact our financial condition.

We are or may be subject to contractual covenants which place certain limitations on how we manage our business.

Certain credit agreements we
have with banks (the “Credit Agreement”) may limit our ability to take various actions, including incurring
additional debt, paying dividends, repurchasing shares, and acquiring or disposing of assets or businesses. Accordingly, we may be restricted
from taking actions that management believes would be desirable and in the best interests of us and our stockholders. Our Credit Agreement
also requires us to satisfy specified financial covenants and comply with other affirmative and negative covenants. A breach of any of
the covenants contained in our Credit Agreement could result in an event of default, which would allow our lenders to pursue various remedies,
including accelerating the repayment of any outstanding indebtedness under our Credit Agreement.

Risks Related to the Company’s International Operations, Legal and Regulatory Matters

Our business is subject to numerous legal and regulatory risks that could have an adverse impact on our business and prospects.

We currently operate in the
large, diverse and complex Southeast Asia. We are subject to various regulations in each of the jurisdictions in which we operate.

Focus areas of regulatory risk
that we are exposed to include, among others: (i) evolution of laws and regulations applicable to game distribution and video game
development, (ii) various forms of data regulation such as data localization, data portability, cybersecurity and advertising or
marketing, (iii) antitrust regulations, (iv) foreign ownership restrictions, (v) artificial intelligence regulation and
(vi) regulations regarding the provision of online services, including with respect to the internet, mobile devices and e-commerce.

In addition, we may not be
able to obtain all the licenses, permits and approvals that may be necessary to provide our game publishing and those we plans to publish.
Because the gaming industry, in which we operate and which includes AI and gaming devices technology, continues to develop, the relevant
laws and regulations, are always evolving in certain jurisdictions and their interpretations may be unclear. This can make it difficult
for us to assess which licenses