Company: GCTS
Filing Date: 2025-05-13
Form Type: S-3/A
Source: 0001104659-25-047808
Chunk: 27

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-05-13
Form: S-3/A
Chunk 27
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 In the event that the conditions in the two immediately
preceding sentences are not satisfied with respect to a Public Warrant, the holder of such Public Warrant will not be entitled to exercise
such Public Warrant and such Public Warrant may have no value and expire worthless. In no event will we be required to net cash settle
any Public Warrant.

If a registration statement covering the shares
of our Common Stock issuable upon exercise of the Public Warrants is not effective by the 60th business day after the Closing of the
business combination, Public Warrant holders may, until such time as there is an effective registration statement and during any period
when we will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance
with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the foregoing, if a registration statement covering
the Company’s Common Stock issuable upon exercise of the Public Warrants is not effective within a specified period following the
Closing of the business combination, warrant holders may, until such time as there is an effective registration statement and during
any period when we shall have failed to maintain an effective registration statement, exercise Public Warrants on a cashless basis pursuant
to the exemption provided by Section 3(a)(9) of the Securities Act of 1933, as amended, or the Securities Act, provided that such exemption
is available. If that exemption, or another exemption, is not available, holders will not be able to exercise their Public Warrants on
a cashless basis.

Redemption of Warrants When the Price per Share of Our Common Stock Equals or Exceeds $18.00

Once the Public Warrants become exercisable,
we may redeem the outstanding Public Warrant (except as described herein with respect to the Private Placement Warrants):

| ● | in                     
 whole and not in part; |

| ● | at                            
 a price of $0.01 per warrant; |

| ● | upon                                                                                  
 not less than 30 days’ prior written notice of redemption to each warrant holder; and |

| ● | if,                                                                                                 
 and only if, the last reported sale price of the shares of our Common Stock for any 20 trading      
 days within a 30-trading day period ending three business days before we send to the notice         
 of redemption to the warrant holders (which we refer to as the “Reference Value”)                   
 equals or exceeds $18.00 per share (as adjusted