Company: GCL
Filing Date: 2025-07-08
Form Type: 424B3
Source: 0001213900-25-062059
Chunk: 31

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-08
Form: 424B3
Chunk 31
---
 receive the benefits of such share dividend, subdivision,     
 split-up, or combination, the Exercise Price shall be adjusted to a new amount equal to the product of (A) the Exercise Price in effect      
 on such record date, and (B) the quotient obtained by dividing (x) the number of Warrant Shares into which this Warrant would be exercisable 
 on such record date (without giving effect to the event referred to in the foregoing clause (i) or (ii)), by (y) the number of Warrant       
 Shares which would be outstanding immediately after the event referred to in the foregoing clause (i) or (ii), if this Warrant had been      
 exercised immediately prior to such record date.                                                                                             |

<div align='center'>18</div>

| 8.2 | Adjustment to Warrant Shares. Upon each adjustment of the Exercise Price                                                                 
 as provided in Section 8.1, the Holder shall thereafter be entitled to subscribe for and purchase, at the Exercise Price resulting from  
 such adjustment, the number of Warrant Shares equal to the product of (i) the number of Warrant Shares into which this Warrant would be  
 exercisable prior to such adjustment and (ii) the quotient obtained by dividing (A) the Exercise Price existing prior to such adjustment 
 by (B) the new Exercise Price resulting from such adjustment.                                                                            |

| 8.3 | Notice of Adjustment. When any adjustment is required to be made in the                                                                     
 number or kind of shares purchasable upon exercise of the Warrant, or in the Exercise Price, PubCo shall promptly notify the Holder of      
 such event and of the number of Warrant Shares or other securities or property thereafter purchasable upon exercise of this Warrant and     
 the notice shall show in reasonable detail the facts on which the adjustment is based. The form of this Warrant need not be changed because 
 of any adjustment in the Exercise Price or in the number or type of shares of Warrant Shares or other property issuable upon its exercise.  |

| 9. | RECLASSIFICATION, MERGER, LIQUIDATION, ETC. |

| 9.1 | Reclassification, Merger, Consolidation. In case of any reclassification,                                                                        
 reorganisation or change of the outstanding ordinary shares of PubCo (other than as a result of a subdivision, combination or share dividend),   
 or in case of any consolidation of PubCo with, or merger of PubCo into, another corporation or other