Company: GCL
Filing Date: 2025-07-08
Form Type: 424B3
Source: 0001213900-25-062059
Chunk: 13

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-08
Form: 424B3
Chunk 13
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 then be immediately sold, this Warrant and the Warrant Shares may bear a restrictive legend in substantially      
 the following form (and a stop-transfer order consistent therewith may be placed against transfer of the certificates for such securities) 
 (the “Securities Law Legend”):                                                                                                             |

“THE OFFER
AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE
STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT, EXCEPT PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, INCLUDING PURSUANT TO RULE 144 UNDER THE
SECURITIES ACT OR PURSUANT TO A PRIVATE SALE EFFECTED UNDER SECTION 4(a)(7) OF THE SECURITIES ACT OR APPLICABLE FORMAL OR INFORMAL SEC
INTERPRETATION OR GUIDANCE, SUCH AS A SO-CALLED “4[(a)](1) AND A HALF SALE.” NOTWITHSTANDING THE FOREGOING, THE SECURITIES
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

| (b) | This Warrant and Warrant Shares (and any certificates or electronic book entries                                                              
 evidencing the Warrant Shares) shall not contain or be subject to (and Holder shall be entitled to removal of) any legend (or stop transfer   
 or similar instruction) restricting the transfer thereof (including the Securities Law Legend): (A) while a registration statement (including 
 a Registration Statement) covering the sale or resale of such securities by the holder thereof is effective under the Securities Act,         
 or (B) if the Holder provides customary certifications to the effect that it has sold, or is selling substantially contemporaneously with     
 the delivery of such certifications, such securities pursuant to such a registration statement or Rule 144 under the Securities Act, or       
 (C) if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and      
 pronouncements issued by the staff of the Commission) as determined in good faith by counsel to PubCo or as set forth in a legal opinion      
 delivered by counsel to the Holder and at any time on or after the date