Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 17

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 17
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 of $1.98 as of March 28, 2025, the Sponsor
(with respect to the Sponsor Founder shares) may experience potential profit of up to $1.971 per share, or an aggregate amount of profit
of up to approximately $5.7 million. Accordingly, such Selling Shareholders may have an incentive to sell their securities even if
the trading price is lower than the price at which our public shareholders purchased their securities. In connection with the initial
public offering of RFAC, RFAC’s initial public shareholders acquired RFAC Public Units at a price of $10.00 per unit, each of which
comprises one share of RFAC Common Stock, one RFAC Warrant and one RFAC Right, and trading price of our Ordinary Shares have fluctuated,
and may continue to fluctuate, following the closing of the Business Combination. Epicsoft Ventures (with respect to the shares issued
to Epicsoft Ventures in connection with the Business Combination) may experience potential profit if the price of the Company’s
Ordinary Shares exceeds $10.00 per share. As a result, our public shareholders may not be able to achieve the same returns as Epicsoft
Ventures, the Sponsor or EBC, or even any positive return at all, on the Ordinary Shares if they sell our Ordinary Shares in the market
at the then-prevailing market prices. See “Risk Factors - 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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Recent Developments Completion of Business Combination On February 13, 2025, we consummated the previously announced business combination with RFAC, pursuant to the Merger Agreement. On the Closing Date, pursuant to the Merger Agreement, (a) Merger Sub 1 merged with and into GCL Global, with GCL Global continuing as the surviving entity in the merger, as a result of which: (i) GCL Global became a wholly-owned subsidiary of the Company and (ii) each issued and outstanding share of GCL Global immediately prior to the consummation of the Merger was automatically cancelled, in exchange for the right of the holder thereof to receive such number of newly issued shares of the Company specified below; and (b) Merger