GCT Semiconductor Appoints New Auditor
Ticker: GCTS-WT · Form: 8-K · Filed: Apr 8, 2024 · CIK: 1851961
| Field | Detail |
|---|---|
| Company | Gct Semiconductor Holding, Inc. (GCTS-WT) |
| Form Type | 8-K |
| Filed Date | Apr 8, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
GCT Semiconductor just swapped auditors from WithumSmith+Brown to PwC.
AI Summary
GCT Semiconductor Holding, Inc. announced on April 4, 2024, that it has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm, replacing WithumSmith+Brown, PC. This change is effective immediately.
Why It Matters
Changing auditors can sometimes signal a shift in financial reporting scrutiny or internal control assessments.
Risk Assessment
Risk Level: low — The filing solely concerns a change in the company's independent auditor, which is a routine administrative event.
Key Players & Entities
- GCT Semiconductor Holding, Inc. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — New independent registered public accounting firm
- WithumSmith+Brown, PC (company) — Former independent registered public accounting firm
- April 4, 2024 (date) — Date of earliest event reported
FAQ
When was the change in GCT Semiconductor Holding, Inc.'s independent auditor effective?
The change was effective immediately as of April 4, 2024.
Who is the new independent registered public accounting firm for GCT Semiconductor Holding, Inc.?
PricewaterhouseCoopers LLP has been appointed as the new independent registered public accounting firm.
Who was GCT Semiconductor Holding, Inc.'s previous independent registered public accounting firm?
WithumSmith+Brown, PC was the previous independent registered public accounting firm.
What type of filing is this for GCT Semiconductor Holding, Inc.?
This is a Form 8-K filing, which is a Current Report.
What is the Commission File Number for GCT Semiconductor Holding, Inc.?
The Commission File Number for GCT Semiconductor Holding, Inc. is 001-41013.
Filing Stats: 968 words · 4 min read · ~3 pages · Grade level 13.1 · Accepted 2024-04-08 16:01:19
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share GCTS NYSE Warrants, eac
- $11.50 — sable for one share of Common Stock for $11.50 per share GCTSW NYSE Indicate by
Filing Documents
- tm2411295d1_8k.htm (8-K) — 37KB
- tm2411295d1_ex16-1.htm (EX-16.1) — 3KB
- 0001104659-24-044718.txt ( ) — 271KB
- gcts-20240404.xsd (EX-101.SCH) — 3KB
- gcts-20240404_def.xml (EX-101.DEF) — 28KB
- gcts-20240404_lab.xml (EX-101.LAB) — 37KB
- gcts-20240404_pre.xml (EX-101.PRE) — 26KB
- tm2411295d1_8k_htm.xml (XML) — 7KB
01
Item 4.01. Changes in Registrant's Certifying Accountants. On April 4, 2023, the Audit Committee of the Board of Directors of GCT Semiconductor Holding, Inc., (f/k/a Concord Acquisition Corp III) (the "Company") approved the engagement of BPM LLP ("BPM") as the Company's independent registered public accounting firm to audit the Company's consolidated financial statements for the fiscal year ended December 31, 2024, effective immediately. BPM served as the independent registered public accounting firm of GCT Semiconductor Inc. ("GCT") prior to the business combination by and among GCT, Concord Acquisition Corp III ("Concord III") and Gibraltar Merger Sub Inc. (the "Business Combination"), which consummated on March 26, 2024. Accordingly, Marcum LLP ("Marcum"), Concord III's independent registered public accounting firm prior to the Business Combination, was informed on April 4, 2024 that it was dismissed and replaced by BPM as the Company's independent registered public accounting firm. Marcum's report on Concord III's consolidated financial statements as of December 31, 2023 and 2022, and the related notes to the consolidated financial statements (collectively, the "financial statements"), did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles, except that such report included an explanatory paragraph as to Concord III's ability to continue as a going concern. During the fiscal years ended December 31, 2023 and December 31, 2022 and through the date of dismissal, there were no: (i) disagreements with Marcum on any matter of accounting principles or practices, financial statement disclosures or audit scope or procedures, which disagreements if not resolved to Marcum's satisfaction would have caused Marcum to make reference to the subject matter of the disagreement in connection with its report or (ii) reportable events as defined in Item 304(a)(1)(v) of Regulation
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Index Exhibit No. Description 16.1 Letter of Marcum LLP Regarding Change in Certifying Accountant. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GCT SEMICONDUCTOR HOLDING, INC. April 8, 2024 By: /s/ Edmond Cheng Name: Edmond Cheng Title: Chief Financial Officer