secwatch.observer — SEC 8-K summary
======================================

Issuer:     GCT Semiconductor Holding, Inc. (GCTS)
CIK:        0001851961
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001104659-24-041823
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 9.01, 3.02, 3.03, 5.01, 5.02, 5.03, 5.06, 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

GCT Semiconductor completes de-SPAC merger with Concord III; begins trading as GCTS
--------------------------------------------------------------------------------

- Business Combination closed March 26, 2024; GCT survived as wholly-owned sub of Concord III, renamed GCT Semiconductor Holding.
- Company value set at $350M; total equity consideration exchanged at $10.00 reference price.
- PIPE investors purchased 4,529,967 shares at $6.67/share (~$30.2M); CVT notes of $13.3M converted at same price.
- Post-closing cash balance of $18.0M; total transaction costs of $20.8M ($8.9M from APIC, remainder expensed).
- Lock-up for GCT stockholders: up to 1 year, releases earlier if stock >=$12.00 for 20 of 30 trading days after 150 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1851961/000110465924041823/0001104659-24-041823-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1851961/000110465924041823/tm249933d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-041823

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