Company: GCTS
Filing Date: 2025-05-30
Form Type: S-3/A
Source: 0001104659-25-054969
Chunk: 32

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-05-30
Form: S-3/A
Chunk 32
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 Warrants when the shares of our Common Stock are trading at a price starting at $10.00, which is below the exercise price
of $11.50, because it will provide certainty with respect to our capital structure and cash position while providing Public Warrant holders
with the opportunity to exercise their Public Warrants on a cashless basis for the applicable number of shares. If we choose to redeem
the Public Warrants when the shares of our Common Stock are trading at a price below the exercise price of the Public Warrants, this
could result in the Public Warrant holders receiving fewer Common Stock than they would have received if they had chosen to wait to exercise
their Public Warrants for Common Stock if and when such Common Stock were trading at a price higher than the exercise price of $11.50.

No fractional shares of our
Common Stock will be issued upon exercise. If, upon exercise, a holder would be entitled to receive a fractional interest in a share,
we will round down to the nearest whole number of the number of shares of our Common Stock to be issued to the holder. If, at the time
of redemption, the Public Warrants are exercisable for a security other than the shares of our Common Stock pursuant to the Public Warrant
agreement (for instance, if we are not the surviving company in our initial business combination), the Public Warrants may be exercised
for such security. At such time as the Public Warrants become exercisable for a security other than the shares of our Common Stock, the
Company (or surviving company) will use its commercially reasonable efforts to register under the Securities Act the security issuable
upon the exercise of the Public Warrants.

Redemption Procedures. A holder of a Public Warrant may notify us in writing in the event it elects to be subject to a requirement that
such holder will not have the right to exercise such Public Warrant, to the extent that after giving effect to such exercise, such person
(together with such person’s affiliates), to the Public Warrant agent’s actual knowledge, would beneficially own in excess
of 4.9% or 9.8% (as specified by the holder) of the shares of our Common Stock issued and outstanding immediately after giving effect
to such exercise.

Anti-dilution Adjustments. If the number of outstanding shares of our Common Stock is increased by a stock capitalization or stock dividend
payable in shares of our Common Stock, or by a split-up of common stock or