Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 55

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 55
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 price may be more volatile.

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Risks Related to Our Securities

We cannot be sure that an active trading market will develop for the Ordinary Shares.

We are a newly formed entity
and prior to the Business Combination, we had not issued any securities in the U.S. markets nor had there been extensive information
about us, our businesses, or our operations publicly available. Notwithstanding the listing of our securities on the Nasdaq Global Select
Market currently, we cannot assure you that an active market for our Ordinary Shares will develop or the price at which the Ordinary
Shares will trade.

There also may not be enough
liquidity in such market to enable shareholders to sell their Ordinary Shares. If an active trading market for the Ordinary Shares does
not develop, investors may not be able to re-sell their Ordinary Shares, rendering their shares illiquid and possibly resulting in a
complete loss of their investment. We cannot predict the extent to which investor interest in our company will lead to the development
of an active, liquid trading market. The trading price of and demand for the Ordinary Shares and the development and continued existence
of a market and favorable price for the Ordinary Shares will depend on a number of conditions, including the development of a market
following, including by analysts and other investment professionals, our businesses, operations, results and prospects, general market
and economic conditions, governmental actions, regulatory considerations, legal proceedings and developments or other factors. These
and other factors may impair the development of a liquid market and the ability of investors to sell shares at an attractive price. These
factors also could cause the market price and demand for the Ordinary Shares to fluctuate substantially, which may limit or prevent investors
from readily selling their shares and may otherwise negatively affect the price and liquidity of the Ordinary Shares. Many of these factors
and conditions are beyond the control of us and shareholders.

Our share price may be volatile and could decline substantially.

The market price of our
Ordinary Shares may be volatile, both because of actual and perceived changes in our financial results and prospects, and because of
general volatility in the stock market. The factors that could cause fluctuations in our share price may include, among other factors
discussed in this section, the following:

| ● | actual or anticipated variations in the financial results and prospects of the 
 company or other companies in the gaming industry;                             |

| ● | changes in economic and financial market conditions; |

| ● | changes in the market valuations of