GCT Semiconductor and Ligado Networks Announce Commercial Availability of Band 54 Modules
Ligado Networks (“Ligado”), a satellite communications company, and GCT Semiconductor Holding Inc. (“GCT”) (
NYSEGCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, announced today that GCT’s Luna Cat-12 LTE module is now commercially available after clearing Federal Communications Commission (FCC) certification. The module is a foundational technology for a new ecosystem of commercial devices operating on LTE Band 54 spectrum at 1670-1675 MHz.
GCT Semiconductor Announces Appointment of Edmond Cheng as Chief Financial Officer
GCT Semiconductor, Inc. (GCT) a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today announced that the Board of Directors of GCT has appointed Edmond Cheng as Chief Financial Officer (CFO) effective March 18, 2024.
GCT Semiconductor and Concord Acquisition Corp III Announce Effectiveness of Registration Statement on Form S-4
GCT Semiconductor, Inc. (“GCT Semiconductor” or “GCT”), a leading fabless designer and supplier of advanced LTE, IoT and 5G semiconductor solutions, and Concord Acquisition Corp III (
NYSECNDB) (“Concord”), a special purpose acquisition company, announced today that the U.S. Securities and Exchange Commission (the “SEC”) has declared effective the Registration Statement on Form S-4 (as amended, the “Registration Statement”) filed by Concord and relating to the previously announced proposed business combination between GCT and Concord (the “Business Combination”).
GCT Semiconductor to Become Publicly Listed via Merger with Concord Acquisition Corp III, Enhancing the 5G Silicon Ecosystem
GCT Semiconductor, Inc. (“GCT Semiconductor” or “GCT”), a leading fabless designer and supplier of advanced LTE, IoT and 5G semiconductor solutions, and Concord Acquisition Corp III (
NYSECNDB) (“Concord”), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement that would result in GCT becoming a publicly traded company. Upon closing of the proposed transaction, the combined company will operate as GCT Semiconductor and is expected to be listed on the NYSE under the ticker symbol “GCTS”. The proposed transaction values GCT at an initial enterprise value of approximately $461 million, with a total pro forma enterprise value of $661 million, which includes 20.0 million performance-based earnout shares. The transaction is expected to provide the combined company with approximately $87 million of gross proceeds (assuming no redemptions from Concord’s trust account) at closing to fuel its continued growth.
