Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 88

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 88
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 is a wholly-owned subsidiary of Epicsoft Asia Pte. Ltd. and effective August 26, 2025, Ban Leong
was officially delisted from the SGX-ST. Cash consideration of the Offer was financed through a combination of an approximately $38.7
million secured term loan facility provided by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (the “HSBC
term loan facility”) and approximately $10.0 million cash on hand from the Company. The HSBC term loan facility is secured by all
assets of GCL Global Pte Ltd, has a five-year term, bears a floating interest rate ranging between 2.5% and 7.5%, and requires quarterly
repayments, with the final installment due in July 2030. See “UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION,”
“Ban Leong Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Ban Leong’s
audited financial statements and notes thereto, presented in accordance with U.S. GAAP, which are included elsewhere in this prospectus.
Ban Leong’s historical results are not necessarily indicative of future results.

For over 30 years, Ban Leong
has distributed a wide range of technology products across Asia that include IT accessories, gaming components, smart (IOT) technology,
and commercial products. Ban Leong is an authorized distributor for over 50 well-known brands, including Razer, Nvidia, Samsung, Huawei,
TP-Link, and LG. Ban Leong’s multi-channel distribution strategy encompasses e-commerce platforms, brick-and-mortar retailers,
chain stores, and direct sales to corporate resellers and system integrators, and operating service centres in Singapore, Malaysia, and
Thailand that provide technical support and repair services.

Other Recent Developments

In September 2024, Hainan
GCL made a secured loan in the aggregate amount of $3,000,000 to Nekcom Inc. (“Nekcom”), a Delaware parent company of a developer
of the game Showa American Story in China. In November 2024, GCL Global, Nekcom and certain significant shareholders
of Nekcom entered into a Series B Preferred Stock Purchase Agreement (the “Nekcom SPA”) pursuant to which, among other things,
(i) Nekcom entered into a publishing agreement with GCL Global (the “Nekcom Publishing Agreement”) appointing 4Divinity as