Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 281

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 281
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 $ |     12,992,848 |

Note 13 — Shareholders’ equity

The Company was established under the laws of Cayman
Islands on September 8, 2023, and authorized to issue 150,000,000 shares with a par value of $$0.0001. On February 14, 2024,
the Company completed its Reorganization under GCL Global with a sequential two-step transaction (see Note 1). All of the outstanding
ordinary shares is presented on the basis as if the Reorganization under GCL Global became effective as of the beginning of the first
period presented on April 1, 2021. As of March 31, 2024 and 2023, 25,747,757 and 25,896,000 ordinary shares were issued and
outstanding, respectively, of which excluding 168,711 and 150,000 ordinary shares subject to possible redemption in mezzanine equity,
respectively.

<div align='center'>F-48

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

On November 22, 2023, 115,000 ordinary shares
subject to possible redemption in temporary equity were fully redeemed for cash consideration of $ 163,905.

The Company collectively issued additional ordinary
shares of 20,468 to the individuals (see Note 3, 2Game acquisition). As of the date of the issuance of these financial statements, the
Company has ordinary shares of 25,916,468 (excluding 53,711 ordinary shares classified as mezzanine equity) issued and outstanding.

On April 12, 2023, Titan Digital acquired a
100% equity interest in Starry from Debbie, the spouse of Jianhao Tan, the Chief Executive Officer (“CEO”) of Titan Digital,
through issuance of 17,648 or 15% of Titan Digital’s ordinary shares to Debbie. As a result, the Company’s equity interest
in Titan Digital was reduced from 100% to 85% upon completion of the acquisition of Starry while recognized $182,599 of non-controlling
interest in the Company’s statements of change in shareholders’ equity. As no cash consideration was received, $381,947 which
is the difference between the fair value of the consideration received and the amount by which the noncontrolling interest is adjusted
was recognized as an addition in additional paid-in capital in accordance with ASC