Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 225

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 225
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 the enhanced brand recognition expected from integrating Starry’s
operations. The acquisition of Starry is strategically aimed at leveraging its expertise in jewelry and accessories retail. By collaborating
with Starry, the Company plans to create unique, game character-inspired jewelry and accessories. This collaboration will not only promote
and market certain games but also expand the Company’s customer base. The synergy between the gaming operations and the jewelry
business is expected to increase brand visibility and appeal to a broader demographic, thereby enhancing brand recognition.

— Acquisition of Martiangear

On July 25, 2023, the
Company through its subsidiary, Titan Digital, entered into a sale and purchase agreements (“SPA2”) with two third-parties
(“Vendors”) to acquire % equity interest of Martiangear. Martiangear was incorporated in Singapore on September 24,
2020, and its principal activities include distribution of gaming desks and chairs. The acquisition of Martiangear was completed on September 4, 2023 (“Acquisition Date”). Pursuant to the SPA2, The Company is obligated to remit an aggregate total of $ 835,348consideration in fair value which consist of following three tranches to the Vendors.

| ● | Tranche 1 — 217,724 of the Company’s ordinary shares (“Consideration Share”) to the Vendors on the Acquisition Date. In the event that the Company fail to become a listed company within 24 months from the Completion Date, the Company irrevocably undertakes to purchase all of the Consideration Share from the Vendors for a cash consideration of $700,000. Given the condition of whether the company can become a listed entity within 24 months is not solely within the control of the Company and in accordance with ASC 480-10-S99, the Company record the fair value of the issuance of the Consideration Shares in Tranche 1 to the Vendors as mezzanine equity. |

| ● | Tranche 2 — An aggregate total of $148,000 cash consideration issue to the Vendors which include (1) $48,000 due on the Completion Date, (2) $50,000 due on one month after the Completion Date, and (3) $50,000 due on two months after the Completion Date. |

As of the date of the issuance of these financial statements, the Company had issued 217,724of its ordinary shares to the Vendors and paid
$ in cash consideration as agreed upon in Tranche 2