Company: GCTS
Filing Date: 2025-05-30
Form Type: S-3/A
Source: 0001104659-25-054969
Chunk: 31

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-05-30
Form: S-3/A
Chunk 31
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 sent to the holders of the Public Warrants is $13.50 per share, and at such time
there are 38 months until the expiration of the Public Warrants, holders may choose to, in connection with this redemption feature, exercise
their Public Warrants for 0.298 Common Stock for each whole Public Warrant. In no event will the Public Warrants be exercisable in connection
with this redemption feature for more than 0.361 Common Stock per Public Warrant (subject to adjustment).

This redemption feature differs from the typical Public Warrant redemption features used in many other blank check offerings, which typically only provide for a redemption of Public Warrants for cash (other than the Private Placement Warrants) when the trading price for the shares of our Common Stock exceeds $18.00 per share for a specified period of time. This redemption feature is structured to allow for all of the outstanding Public Warrants to be redeemed when the shares of our Common Stock are trading at or above $10.00 per share, which may be at a time when the trading price of our shares of Common Stock is below the exercise price of the Public Warrants. We have established this redemption feature to provide us with the flexibility to redeem the Public Warrants without the Public Warrants having to reach the $18.00 per share threshold set forth above under “- Redemption of Public Warrants When the Price per Share of Our Common Stock Equals or Exceeds $18.00.” Holders choosing to exercise their Public Warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares for their Public Warrants based on an option pricing model with a fixed volatility input. This redemption right provides us with an additional mechanism by which to redeem all of the outstandingPublic Warrants,
and therefore have certainty as to our capital structure as the Public Warrants would no longer be outstanding and would have been exercised
or redeemed. We will be required to pay the applicable redemption price to Public Warrant holders if we choose to exercise this redemption
right and it will allow us to quickly proceed with a redemption of the Public Warrants if we determine it is in our best interest to
do so. As such, we would redeem the Public Warrants in this manner when we believe it is in our best interest to update our capital structure
to remove the Public Warrants and pay the redemption price to the Public Warrant holders.

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As stated above, we can redeem
the Public