Company: GCL
Filing Date: 2025-07-08
Form Type: 424B3
Source: 0001213900-25-062059
Chunk: 11

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-08
Form: 424B3
Chunk 11
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 Section 4.3(b)), if applicable, as shall be necessary to enable the Transfer Agent to transmit to the Holder in accordance
with this Section 4.1, the number of Warrant Shares issuable upon such exercise. PubCo warrants that no instructions other than these
instructions have been or will be given to the Transfer Agent in respect of the Warrant Shares and that the Warrant Shares will not contain
any legends or be subject to stop transfer if any of the Unrestricted Conditions is met in respect thereof.

The Warrant
Shares issuable upon such exercise of this Warrant shall be deemed to have been issued to the Person or Persons entitled to receive such
Warrant Shares and such Person or Persons shall be treated for all purposes as the legal and record holder or holders of such Warrant
Shares as a matter of Cayman Islands law as of the date the register of members of PubCo is updated accordingly. The Holder shall not
be required to surrender this Warrant to PubCo until the Holder has purchased all of the Warrant Shares available hereunder and this Warrant
has been exercised in full, in which case the Holder shall surrender this Warrant to PubCo for cancellation within three (3) Trading Days
following the last Exercise Date hereunder.

In case of
Voluntary Exercise, execution and delivery of the Notice of Exercise with respect to a partial exercise shall have the same effect as
cancellation of the original Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares.
The Holder and PubCo shall maintain records showing the number of Warrant Shares purchased and the remaining number of Warrant Shares.
The Holder, by acceptance of this Warrant, acknowledges and agrees that, by reason of the provisions of this paragraph, following the
purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time
may be less than the amount stated herein.

| 4.2 | Transferability of Warrant. Subject to Section 4.3(c), this Warrant and                                                                     
 all rights hereunder are transferable, in whole or in part, by the Holder without charge to the Holder, upon surrender of this Warrant      
 to PubCo at its then principal offices, provided that the following conditions are met: (a) the intended transferee has the financial       
 capability or means to pay the Exercise Price in accordance with terms of this Warrant and has not engaged in any