GCT Semiconductor enters up to $20M convertible note facility with Indigo Capital LP

GCT Semiconductor Holding, Inc.

Initial $1M advance; subsequent $1M tranches available at company's option, up to $20M aggregate.
7% original issue discount; 24-month maturity; no interest; convertible at 90% of 3-day VWAP.
Shares issuable upon conversion registered on existing Form S-3 for resale.
Company controls timing and amount of draws; no obligation to use facility.
Subsequent advances require $1.00 minimum closing bid price for prior 5 trading days.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GCT Semiconductor Holding, Inc. incurred convertible notes of up to $20,000,000 with Indigo Capital LP at will not bear interest maturing 24 months after issuance.

Instrument: convertible notes
Principal: up to $20,000,000
Counterparty: Indigo Capital LP
Rate: will not bear interest
Maturity: 24 months after issuance
Event: incurrence

Exact text from the filing

On December 15, 2025, GCT Semiconductor Holding, Inc. (the "Company") entered into a Convertible Promissory Note Purchase Agreement (the "Purchase Agreement") with Indigo Capital LP (the "Purchaser"), pursuant to which the Company may issue and sell to the Purchaser convertible promissory notes (the "Convertible Notes") in an aggregate principal amount of up to $20,000,000.

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GCT Semiconductor Holding, Inc. filing history →

Source: SEC EDGAR

accession 0000929638-25-004601

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