Concord Acquisition Corp III shareholders approve extension; 88% of Class A shares redeemed, trust nearly depleted

GCT Semiconductor Holding, Inc.

Shareholders approved charter amendment to extend business combination deadline from May 8, 2023 to Nov 8, 2023; 33,891,464 for, 2,670,391 against.
30,460,066 Class A shares redeemed at ~$10.42/share, aggregate ~$317.39 million, leaving ~$42.10 million in trust.
Sponsor agreed to transfer 999,665 Class B shares to non-redeeming holders upon completion of an initial business combination.
Total shares entitled to vote were 34.5M Class A and 8.625M Class B; 84.78% turnout at special meeting.

item 1.01 item 5.03 item 5.07 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

GCT Semiconductor Holding, Inc.: Extended the deadline to consummate a business combination from Termination Date to Extended Date (effective 2023-05-04).

Change: charter amendment
Effective: 2023-05-04

Exact text from the filing

the Company filed an amendment to its amended and restated certificate of incorporation with the Delaware Secretary of State on May 4, 2023 (the “ Charter Amendment ”), to extend the date by which the Company has to consummate a business combination from the Termination Date to the Extended Date.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GCT Semiconductor Holding, Inc. entered into "Non-Redemption Agreements" with certain third parties valued at an aggregate of 999,665 shares of the Company’s Class B common stock (effective 2023-04-06).

Action: entry
Counterparty: certain third parties
Value: an aggregate of 999,665 shares of the Company’s Class B common stock
Effective: 2023-04-06

Exact text from the filing

on April 6, 2023, Concord Acquisition Corp III (the “ Company ”) and Concord Sponsor Group III LLC (the “ Sponsor ”), the Company’s sponsor, entered into agreements (“ Non-Redemption Agreements ”) with certain third parties

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

GCT Semiconductor Holding, Inc. shareholders approved Charter Amendment to extend the date by which the Company has to consummate a business combination from the Termination Date to the Extended Date. at the 2023-05-04 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-05-04

Exact text from the filing

The stockholders approved the Charter Amendment to extend the date by which the Company has to consummate a business combination from the Termination Date to the Extended Date. The voting results were as follows: FOR AGAINST ABSTAIN BROKER NON- VOTES 33,891,464 2,670,391 0 0

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GCT Semiconductor Holding, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-056911

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