Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 344

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 344
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zzanine equity.
As of September 30, 2023 and March 31, 2023, 25,896,000 ordinary shares were issued and outstanding which excluding 168,711
and 150,000 ordinary shares subject to possible redemption in mezzanine equity, respectively.

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

On October 1,
2023, 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 unaudited condensed 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 810-10-45-23 “Change in a parent’s
ownership interest in a subsidiary”.

<div align='center'>F-87

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 15 — Income tax

Cayman Islands

GCL Global
is incorporated in Cayman Islands and is not subject to tax on income or capital gains under current Cayman Island law. Additionally,
upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed.

British Virgin Islands

GCL BVI is
incorporated in British Virgin Islands and are not subject to tax on income or capital gains under current British Virgin Island law.
Additionally, upon payments of dividends to the