---
schema_version: "secwatch.filing_event.v1"
accession: "0000929638-25-004601"
form_type: "8-K"
ticker: "GCTS"
cik: "0001851961"
company_name: "GCT Semiconductor Holding, Inc."
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:15:26.584586+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000929638-25-004601
- form_type: 8-K
- ticker: GCTS
- cik: 0001851961
- company_name: GCT Semiconductor Holding, Inc.
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1851961/000092963825004601/0000929638-25-004601-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1851961/000092963825004601/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000929638-25-004601
- JSON: https://secwatch.observer/filing/0000929638-25-004601.json
- Plain text: https://secwatch.observer/filing/0000929638-25-004601.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1851961/000092963825004601/0000929638-25-004601-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.