Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 294

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 294
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the Conversion Date, one-third (1/3) of the Bonus Shares shall be released from the escrow account to either the Transaction Investors
or to the Company for cancellation, based on the number of Merger Consideration Shares held by the Transaction Investors at the time.
In the event that the lowest volume-weighted average closing price of the Merger Consideration Shares is less than $4.50 per share for
any ten (10) consecutive trading days during the last month prior to the third anniversary day of the Conversion Date, the Transaction
Investors will be entitled to receive certain Top-Up Shares (defined in the Note Purchase Agreement) and, under certain limited circumstances,
a cash payment, based on the number of Merger Consideration Shares held on the third anniversary date of the Business Combination. The
Transaction Investors will be entitled to receive 110% of the outstanding principal balance of the Note in the event that the Business
Combination is not consummated on or before March 28, 2025, or if the per share price used to the calculate the exchange ratio for the
Business Combination is less than $10.00 per share. Epicsoft Asia has agreed to unconditionally guarantee all of the Company’s obligations
and performance under $30,250,000 of the Note, including but not limited to the Company’s obligation to pay; and GCL Global SG has
agreed to unconditionally guarantee all of the Company’s obligations and performance under $3,000,000 of the Note. As of the date
of this prospectus, the Company has received proceed of $20,025,000 from above mentioned Notes, and the remaining $13,000,000 will be
received by January 5, 2025.

<div align='center'>F-56

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Stated in U.S dollar, except for the number of shares)</div>

| ASSETS                                                                                                                                                               
 CURRENT ASSETS                                                                                                                                                       |     | September 30, 
 2024          
 (Unaudited)   |            |   |     | March 31, 
 2024      |            |   |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--------------|-----------:|:--|:----|:----------|-----------:|:--|
| Cash and cash equivalents                                                                                                                                            |     | $             |  7,727,167 |