---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-056911"
form_type: "8-K"
ticker: "GCTS"
cik: "0001851961"
company_name: "GCT Semiconductor Holding, Inc."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T14:24:20.166843+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-056911
- form_type: 8-K
- ticker: GCTS
- cik: 0001851961
- company_name: GCT Semiconductor Holding, Inc.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.03, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1851961/000110465923056911/0001104659-23-056911-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1851961/000110465923056911/tm2314500d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-056911
- JSON: https://secwatch.observer/filing/0001104659-23-056911.json
- Plain text: https://secwatch.observer/filing/0001104659-23-056911.txt

## Key facts
- Governance Changes
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1851961/000110465923056911/0001104659-23-056911-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1851961/000110465923056911/0001104659-23-056911-index.htm
- Shareholder Votes
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1851961/000110465923056911/0001104659-23-056911-index.htm

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