---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-115546"
form_type: "8-K"
ticker: "GCTS"
cik: "0001851961"
company_name: "GCT Semiconductor Holding, Inc."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T10:56:16.852339+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Concord Acquisition Corp III enters $350M business combination with GCT Semiconductor

## Summary
- SPAC CNDB to merge with GCT; target valued at $350M (adjusted for debt and cash).
- PIPE investors commit ~$29.9M at $6.67/share; convertible notes add up to $13.3M.
- GCT stockholders receive shares of New CND common stock; earnout of up to 20M shares at $12.50/$15.00/$17.50 share targets.
- Sponsor agrees to vote for deal, not redeem shares, and forfeit up to 2.82M private warrants; lock-up period one year.
- Closing conditioned on stockholder approvals, $5M+ net tangible assets, and SEC registration statement effectiveness.

## SEC filing metadata
- accession: 0001104659-23-115546
- form_type: 8-K
- ticker: GCTS
- cik: 0001851961
- company_name: GCT Semiconductor Holding, Inc.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1851961/000110465923115546/0001104659-23-115546-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1851961/000110465923115546/tm2330058d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-115546
- JSON: https://secwatch.observer/filing/0001104659-23-115546.json
- Plain text: https://secwatch.observer/filing/0001104659-23-115546.txt

## Key facts
- Material Agreements
  GCT Semiconductor Holding, Inc. entered into Business Combination Agreement with GCT Semiconductor, Inc. valued at $350 million (effective 2023-11-02).
  - Action: entry
  - Agreement: merger
  - Counterparty: GCT Semiconductor, Inc.
  - Value: $350 million
  - Effective: 2023-11-02
  source text: On November 2, 2023, Concord Acquisition Corp III, a Delaware corporation (the “Company”) enterd into a business combination agreement (the “Business Combination Agreement”) with GCT Semiconductor, Inc., a Delaware corporation (“GCT”), and Gibraltar Merger Sub Inc., a Delaware corporation and a direct, wholly-owned subsidiary of the Company (“Merger Sub”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1851961/000110465923115546/0001104659-23-115546-index.htm

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