Company: GCTS
Filing Date: 2025-05-30
Form Type: S-3/A
Source: 0001104659-25-054969
Chunk: 38

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-05-30
Form: S-3/A
Chunk 38
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ated or non-certificated basis and
updating our stock records to reflect the issuance of the Common Stock. The Anapass Warrant can be exercised, in whole or in part, at
any time before September 26, 2029 (the “Expiration Time”) by delivering a Notice of Exercise, duly executed by the holder,
to the Company's principal executive office. The holder must also surrender the Anapass Warrant and, unless opting for a cashless exercise,
provide payment in cash or by wire transfer for the shares being purchased, calculated by multiplying the number of shares by the Exercise
Price of $3.02 per share. The Anapass Warrant is considered exercised immediately before the close of business on the date the Company
receives the Notice of Exercise. The holder is treated as the record holder of the shares as of that date. In the event of a partial
exercise, the Company will cancel the existing Anapass Warrant and issue a new Anapass Warrant for the remaining shares within 15 days.

The Anapass Warrant may also
be exercised through a cashless exercise. The holder will receive the "Net Number" of shares calculated using the formula:
X = Y [(A-B)/A], where "X" is the number of shares to be issued, "Y" is the total number of shares being exercised,
"A" is the closing sale price per share of Common Stock on the trading day before the Exercise Date, and "B" is the
Exercise Price. The shares issued in a cashless exercise are deemed acquired on the original issuance date of the Warrant for purposes
of Rule 144 under the Securities Act.

There will be no exercise
of the Anapass Warrant if it results in the holder beneficially owning more than 19.99% of the Company's outstanding Common Stock immediately
after the exercise. This limitation includes shares issuable upon exercise of the Anapass Warrant and excludes shares from the non-exercised
portion of the Anapass Warrant or other securities with similar limitations. The holder is responsible for determining compliance with
this limitation, and we are not obligated to verify the holder's determination. The holder can decrease the beneficial ownership limitation
upon written notice to the Company.

If the Anapass Warrant is
lost, stolen, destroyed, or mutilated, the Company will issue a new Anapass Warrant with the same terms upon receiving satisfactory evidence
and, in the case of loss