Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 369

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 369
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(as defined below in Note 5) and any Public Shares purchased during or after the Initial Public Offering in favor of a Business Combination.
In addition, the initial stockholders have agreed to waive their redemption rights with respect to their Founder Shares and Public Shares
in connection with the completion of a Business Combination.

The Certificate of Incorporation
will provide that a Public Stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder
is acting in concert or as a “group”(as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the
Public Shares, without the prior consent of the Company.

<div align='center'>F-104</div>

The holders of the Founder
Shares (as defined below) have agreed not to propose an amendment to the Certificate of Incorporation to modify the substance or timing
of the Company’s obligation to allow redemption in connection with a Business Combination or to redeem 100% of the Public Shares
if the Company does not complete a Business Combination within the Combination Period (as defined below) or with respect to any other
material provisions relating to stockholders’ rights or pre-initial Business Combination activity, unless the Company provides the
Public Stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment.

If the Company is unable to
complete a Business Combination within the extended deadline of March 28, 2025 (the “Combination Period”), the Company will
(i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten
business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on
deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company
to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares,
which redemption will completely extinguish Public Stockholders’ rights as stockholders (including the right to receive further
liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining stockholders and its board of directors, dissolve and liquidate, subject in each