Edmond Cheng
On March 22, 2024, GCT announced that the Board of Directors of GCT had appointed Edmond Cheng as Chief Financial Officer (CFO) effective March 18, 2024.
Highest-materiality recent filing
GCT Semiconductor Q2 2026 revenue down 17.9% to $1.0M; net loss widens to $20.4M
Net revenues $1.0M, down 17.9% YoY from $1.2M; gross margin negative.
GCT Semiconductor Q1 revenue up 287% YoY to $1.9M; 5G chipset shipments up 58% sequentially
Revenue $1.9M (+287% YoY); gross margin improved to 49.3% from 17.7%.
GCT Semiconductor Q4 revenue $0.8M (-57.5% YoY); 5G chipset shipments exceed 1,900
Q4 revenue $0.8M (-57.5% YoY), FY2025 $2.9M (-68.6% YoY); gross margin negative as product revenue insufficient to absorb overhead.
GCT Semiconductor extends note maturity to 2028, issues warrant to Gogo for 500k shares at $2.50
Maturity of convertible note extended from 2026 to February 26, 2028.
GCT licenses 5G/4G chipsets to major satellite provider for global connectivity
Licensed 5G and 4G chipsets to one of the world’s largest satellite communications providers.
GCT reports Q3 revenue down 84% to $0.4M, highlights 5G chipset orders >2,500 units
Net revenues $0.4M vs $2.6M YoY; gross margin negative as overhead not absorbed by low revenue.
Net revenues $1.2M, down 19% YoY from $1.5M; gross margin fell to 32.0% from 62.7%.
GCT reports Q1 revenue down 85% to $0.5M; 5G chipset sampling begins May 2025
Net revenues $0.5M (-84.8% YoY); net loss $7.0M vs prior-year net income $0.8M (incl. $14.6M gain).
GCT Semiconductor raises $11M in registered direct offering of shares and warrants
Sold 7,006,370 shares and warrants for up to 10,509,555 shares at $1.57/unit; gross proceeds ~$11M.
GCT Q1 revenue $0.5M (-84.8% YoY); net loss $7.0M; 5G sampling starts end of May
Q1 net revenue $0.5M, down 84.8% YoY; net loss $7.0M vs net income $0.8M a year ago.
Net revenue $1.8M in Q4 2024, down 57.4% YoY from $4.2M; full year $9.1M down 43%.
GCT Semiconductor secures ₩6.5B ($4.5M) loan from Chairman at 12% interest, matures Feb 2025
Borrower GCT Research (wholly owned subsidiary) entered a Loan Agreement with Chairman Kyeongho Lee for up to ₩6.5B (≈$4.5M) at 12% annual interest.
GCT Semiconductor Q3 revenue $2.6M, down 42% YoY; 5G chipset shipments H1 2025
Net revenues $2.6M, down 42% YoY from $4.5M, but up 78% sequentially; gross margin improved to 62% from 12%.
GCT Semiconductor Q2 revenue $1.5M, down 65% YoY; 5G chipset on track for Q4 sampling
Net revenues $1.5M (down from $4.3M YoY); gross margin 63% vs 66%.
GCT Semiconductor enters $50M common stock purchase agreement with B. Riley
Agreement to sell up to $50M in new shares to B. Riley Principal Capital II, at company's discretion, based on VWAP pricing.
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.
Concord Acquisition Corp III stockholders approve business combination with GCT Semiconductor
11,001,661 shares voted FOR the business combination; 0 against; 100% approval.
NYSE notice dated Jan 19, 2024; Company has fewer than 300 public stockholders, violating Section 802.01B.
Concord Acquisition Corp III shareholders approve extension to August 2024
Approved charter amendment extending business combination deadline from Nov 8, 2023 to Aug 8, 2024.
Concord Acquisition Corp III enters $350M business combination with GCT Semiconductor
SPAC CNDB to merge with GCT; target valued at $350M (adjusted for debt and cash).
Concord Acquisition Corp III to merge with GCT Semiconductor at $661M valuation, up to $87M proceeds
Pro forma valuation of GCT at $661M including 20.0M performance-based earnout shares.
Special meeting on Nov 6, 2023 to approve extending business combination deadline from Nov 8, 2023 to Aug 8, 2024.
Special meeting to approve charter amendment extending business combination deadline to Aug 8, 2024.
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.
Concord Acquisition Corp III completes $345M IPO, deposits $351.9M in trust
Sold 34.5M units at $10 each, including full over-allotment exercise, gross $345M.
Concord Acquisition Corp III closes upsized $345M IPO, full over-allotment exercised
Gross proceeds of $345M from 34.5M units at $10/unit, including 4.5M over-allotment units.
On March 22, 2024, GCT announced that the Board of Directors of GCT had appointed Edmond Cheng as Chief Financial Officer (CFO) effective March 18, 2024.
On April 1, 2024, the Company announced Nelson C. Chan was appointed as an independent director to its Board, effective March 26, 2024.
Effective as of November 3, 2021, the following individuals were appointed to the board of directors of the Company: Peter Ort, Thomas King and Larry Leibowitz.
Effective as of November 3, 2021, the following individuals were appointed to the board of directors of the Company: Peter Ort, Thomas King and Larry Leibowitz.
Effective as of November 3, 2021, the following individuals were appointed to the board of directors of the Company: Peter Ort, Thomas King and Larry Leibowitz.
Max materiality 0.85 · Median 0.60 · Most common event other_material