Company: GCL
Filing Date: 2025-04-30
Form Type: 424B3
Source: 0001213900-25-037646
Chunk: 20

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-30
Form: 424B3
Chunk 20
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, thereby diversifying revenue streams and further strengthening our comprehensive gaming ecosystem. We firmly
believe that the continued evolution in AI and graphics processing power will expand the frontiers of gamers’ experience in the
future. Adding unique branded products to our product offerings will help solidify our leading position in a rapidly changing industry.”

Financial Impact and Financing of the Offer

Based on public filings, Ban Leong’s revenue
was S$97,533,912 and S$208,080,530 for the six months ended September 30, 2024, and for the fiscal year ended March 31,
2024, respectively. This transaction is expected to have a positive impact on GCL’s adjusted EBITDA. The Offer will be financed
by a secured term loan facility provided by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and Offeror’s
cash on hand.

Summary of Offer Terms

The Offer is conditional upon the Offeror having
received, by the close of the Offer, valid acceptances (which have not been withdrawn) of such number of Offer Shares which will result
in the Offeror and parties acting or deemed to be acting in concert with it holding such number of Shares carrying more than 50% of the
voting rights attributable to the issued share capital of Ban Leong (excluding any Shares held in treasury) (the “Minimum Acceptance Condition”). Save for the Minimum Acceptance Condition, the Offer is unconditional in all other respects.

The Offer Price is S$0.6029 (approximately US$0.4580)
in cash for each Share. This represents the highest price at which the ordinary shares have traded since Ban Leong’s Singapore listing
in June 2005 and the following premiums over the historical transacted prices of the Shares on the SGX-ST:

| · | a premium                                                                                                                   
 of 60.8% to the last transacted price per Share of S$0.375, as quoted on the SGX-ST on April 29, 2025 (“Last Trading Day”), 
 being the last full trading day prior to the Offer Announcement1,2;                                                         |

| · | a premium of 63.9% to the 1-month volume weighted average price 
 (“VWAP”) up to the Last Trading Day1,2;                         |

| · | a premium of 69.3% to the 3-month VWAP up to the Last Trading 
 Day1,2;                                                       |

| · | a premium of