Concord Acquisition Corp III to merge with GCT Semiconductor at $661M valuation, up to $87M proceeds

GCT Semiconductor Holding, Inc.

Pro forma valuation of GCT at $661M including 20.0M performance-based earnout shares.
Enterprise value ~$461M at closing; gross proceeds up to $87M from PIPE, convertible note, and trust.
$43M fully committed PIPE and convertible note financing from existing and new investors.
Transaction expected to close in Q1 2024; combined company to list on NYSE as "GCTS".
All GCT existing stockholders retain their equity through the transition to public company.

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