Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 359

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 359
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 the Company the right
to extend the date by which it has to consummate a business combination from March 28, 2023 to December 28, 2023, composed of an initial
three-month extension and six subsequent one-month extensions, for a total of up to nine months after March 28, 2023, by depositing into
the Trust Account (A) for the initial three-month extension, the lesser of (i) $300,000 or (ii) $0.12 for each share of the Company’s
Class A Common Stock not redeemed in connection with the Charter Amendment Proposal, and (B) for each of the six subsequent one-month
extensions, the lesser of (i) $100,000 or (ii) $0.04 for each share of Class A Common Stock not redeemed in connection with the Extension
Amendment Proposal, until December 28, 2023 in exchange for a noninterest bearing, unsecured promissory note payable upon consummation
of a business combination. In connection therewith the stockholders of record were provided the opportunity to exercise their
redemption rights. Holders of 7,391,973 shares of Class A common stock exercised their right to redemption at a per share redemption price
of approximately $10.29. On April 3, 2023, a total of $76,054,240 in redemption payments were made in connection with this redemption.
Following the redemption, the Company had a total of 4,108,027 shares of Class A common stock outstanding.

<div align='center'>F-102</div>

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