GCT Semiconductor Files for IPO

TL;DR

GCT Semi is going public, filing S-1 with $24M rev but $435M net loss.

AI Summary

GCT Semiconductor Holding, Inc. filed an S-1 form on May 22, 2024, indicating its intention to go public. The company, formerly Concord Acquisition Corp III, is based in New York and operates in the semiconductors & related devices industry. The filing details financial figures such as $24,166,000 in revenue and $45,833,000 in costs and expenses for a recent period, with a net loss of $435,626,000.

Why It Matters

This S-1 filing signals GCT Semiconductor's move towards becoming a publicly traded company, which could impact its funding, growth, and the semiconductor market.

Risk Assessment

Risk Level: high — The company reported a significant net loss of $435,626,000, indicating substantial financial challenges.

Key Numbers

• $24.17M — Revenue (Indicates the company's sales performance in the reported period.)
• $435.63M — Net Loss (Highlights significant financial losses incurred by the company.)
• 3674 — SIC Code (Classifies the company within the 'Semiconductors & Related Devices' industry.)

Key Players & Entities

• GCT Semiconductor Holding, Inc. (company) — Filer of the S-1 registration statement.
• Concord Acquisition Corp III (company) — Former name of GCT Semiconductor Holding, Inc.
• 20240522 (date) — Date the S-1 filing was made.
• $24,166,000 (dollar_amount) — Reported revenue.
• $45,833,000 (dollar_amount) — Reported costs and expenses.
• $435,626,000 (dollar_amount) — Reported net loss.

FAQ

Key Financial Figures

• $0.0001 — 10,900,000 shares of our common stock, $0.0001 par value per share (the "Common Stock"
• $50,000,000 — tyholder. However, we may receive up to $50,000,000 aggregate gross proceeds under the Purc
• $5.30 — e closing price of our Common Stock was $5.30 per share, and the closing price of our
• $0.15 — the closing price of our Warrants, was $0.15 per Warrant. We are an "emerging growt

Filing Documents

• tmb-20240331xs1.htm (S-1) — 6336KB
• tmb-20240331xex5d1.htm (EX-5.1) — 10KB
• tmb-20240331xex10d25.htm (EX-10.25) — 17KB
• tmb-20240331xex23d1.htm (EX-23.1) — 2KB
• tmb-20240331xex23d2.htm (EX-23.2) — 3KB
• tmb-20240331xexfees.htm (EX-FILING FEES) — 36KB
• tmb-20240331xs1010.jpg (GRAPHIC) — 31KB
• tmb-20240331xs1011.jpg (GRAPHIC) — 32KB
• tmb-20240331xs1012.jpg (GRAPHIC) — 42KB
• tmb-20240331xs1013.jpg (GRAPHIC) — 27KB
• tmb-20240331xs1014.jpg (GRAPHIC) — 38KB
• tmb-20240331xs1015.jpg (GRAPHIC) — 31KB
• tmb-20240331xex5d1001.jpg (GRAPHIC) — 4KB
• tmb-20240331xex5d1002.jpg (GRAPHIC) — 8KB
• 0001410578-24-000946.txt ( ) — 31297KB
• tmb-20240331.xsd (EX-101.SCH) — 196KB
• tmb-20240331_cal.xml (EX-101.CAL) — 131KB
• tmb-20240331_def.xml (EX-101.DEF) — 870KB
• tmb-20240331_lab.xml (EX-101.LAB) — 1246KB
• tmb-20240331_pre.xml (EX-101.PRE) — 1446KB
• tmb-20240331xs1_htm.xml (XML) — 5347KB

USE OF PROCEEDS

USE OF PROCEEDS 28 MARKET INFORMATION FOR SECURITIES AND DIVIDEND POLICY 39 UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION 40

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 53

BUSINESS

BUSINESS 68 MANAGEMENT AND BOARD OF DIRECTORS 83 EXECUTIVE AND DIRECTOR COMPENSATION 90 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 94 BENEFICIAL OWNERSHIP OF SECURITIES 98 SELLING SECURITYHOLDER 100

DESCRIPTION OF SECURITIES

DESCRIPTION OF SECURITIES 103 PLAN OF DISTRIBUTION (CONFLICT OF INTEREST) 109 MATERIAL UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS 113 LEGAL MATTERS 119 EXPERTS 119 CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 119 WHERE YOU CAN FIND MORE INFORMATION 120 INDEX TO FINANCIAL STATEMENTS F-1 We have not, and the Selling Securityholder has not, authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We and the Selling Securityholder take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the shares of Common Stock offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus or in any applicable free writing prospectus is current only as of its date, regardless of its time of delivery or any sale of our shares of Common Stock. Our business, financial condition, results of operations and prospects may have changed since that date. For investors outside of the United States: we have not, and the Selling Securityholder has not, done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of our shares of Common Stock and the distribution of this prospectus outside of the United States. To the extent there is a conflict between the information contained in this prospectus, on the one hand, and the information contained in any document incorporated by reference filed with the SEC before the date of th

View Full Filing

View this S-1 filing on SEC EDGAR