secwatch.observer — SEC 8-K summary
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Issuer:     GCT Semiconductor Holding, Inc. (GCTS)
CIK:        0001851961
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001104659-23-115546
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851961/000110465923115546/0001104659-23-115546-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851961/000110465923115546/tm2330058d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-115546

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer