Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 388

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 388
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 the EBC founder shares),
including the total number of shares of Class A common stock issued, or deemed issued or issuable upon conversion or exercise of
any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of
the initial Business Combination, excluding any shares of Class A common stock or equity-linked securities or rights exercisable
for or convertible into shares of Class A common stock issued, or to be issued, to any seller in the initial Business Combination
and any private placement warrants issued to the Sponsor, officers or directors.

On June 26, 2023, the Company’s
board of directors unanimously consented to the conversion of the Company’s shares of Class B common stock to shares of Class A
common stock on a one - for one basis. On June 26, 2023, RF Dynamic LLC, the sole holder of Class B common stock, also consented to the
conversion of the Company’s Class B Common Stock to shares of Class A common stock on a one - for - one basis. On July 7, 2023,
the Company instructed its transfer agent to initiate the conversion of the shares of Class B common stock to shares of Class A common
stock. An aggregate of 2,875,000 shares of Class B common stock with a par value of $0.0001 per share was converted into 2,875,000 shares
of Class A common stock with a par value of $0.0001. Following, the Company had a total of 3,075,000 shares of Class A common stock outstanding.
As of December 31, 2024 and December 31, 2023, there were 0 shares of Class B common stock issued and outstanding.

<div align='center'>F-116</div>

Warrants —
Public Warrants may only be exercised for a whole number of shares. No fractional warrants will be issued upon separation of
the Units and only whole warrants will trade. The Public Warrants will become exercisable 30 days after the consummation of a Business
Combination. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or
liquidation.

The Company will not be obligated
to deliver any Class A common stock pursuant to the exercise of a Public Warrant and will have no obligation to settle such Public
Warrant exercise unless a registration statement under the Securities Act covering the issuance of the Class