Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 183

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 183
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 Ordinary Shares and Warrants, might materially and adversely
affect our ability to raise additional capital through the issuance of equity and/or debt securities in the future. See “Risk Factors - Risks Related to Ownership of Securities in the Company - Risks Related to Our Securities - Sales of a substantial number of our securities in the public market by our existing shareholders could cause the price of our Ordinary Shares and Warrants to fall, and certain Selling Shareholders can earn a positive rate of return on their investment, even if other shareholders experience a negative rate of return.”

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CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</div>

RFAC

Sponsor Founder Shares

On January 21, 2021, RFAC issued an aggregate of 2,875,000 Sponsor Founder Shares to the Sponsor in exchange for $25,000. The per share purchase price was approximately $0.009 per share. On March 30, 2022, in connection with the underwriters’ election to fully exercise their over- allotment option, an aggregate of 375,000 Sponsor Founder Shares were no longer subject to forfeiture. The Sponsor Founder Shares automatically converted into shares of RFAC Class A Common Stock at the time of our Business Combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment.

On June 26, 2023, the RFAC board of directors unanimously consented to the conversion of the shares of RFAC Class B Common Stock to shares of RFAC Class A Common Stock on a one-for one basis. On June 26, 2023, RF Dynamic LLC, the sole holder of RFAC Class B Common Stock, also consented to the conversion of the shares of RFAC Class B Common Stock to shares of RFAC Class A Common Stock on a one-for-one basis. On July 7, 2023, RFAC instructed its transfer agent to initiate the conversion of the shares of RFAC Class B Common Stock to shares of RFAC Class A Common Stock. An aggregate of 2,875,000 shares of RFAC Class B Common Stock with a par value of $0.0001 per share was converted into 2,875,000 shares of RFAC Class A Common Stock with a par value of $0.0001.

Private Placement Warrants

Simultaneously with the consummation of the closing of the IPO, pursuant to the RFAC Private Placement Warrants Purchase Agreements, RFAC