Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 200

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 200
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RW 6.5 billion ($4.5 million) with an annual interest rate of 12%. The term loan had a maturity date in February 2025 and remains outstanding as of the issuance date of these consolidated financial statements. The Company incurs a penalty of 3% of principal per month calculated daily until principal and accrued interest has been paid.i Best Investment Co., LtdIn February 2025, the Company executed an amendment with i Best Investment Co., Ltd. to extend the maturity date from February 2025 to May 2025 for its first draw and fifth draw.Anapass, Inc., Related PartyIn March 2025, the Company entered into a term loan agreement with Anapass, Inc. pursuant to which the Company borrowed KRW 4.5 billion ($3.1 million) with an annual interest rate of 6.5%. The term loan has a maturity date in March 2026 and remains outstanding as of the issuance date of these consolidated financial statements.

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GCT SEMICONDUCTOR HOLDING, INC.Notes to Consolidated Financial Statements 

Purchase AgreementFrom January 1, 2025 through March 20, 2025, the Company sold 73,984 shares of its common stock to B. Riley under the Purchase Agreement for gross proceeds of $0.2 million that were received by the Company in cash.

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Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

None.

Item 9A. Controls and Procedures.

Management’s Report on Internal Control over Financial Reporting

Our management, including our Chief Executive Officer and Chief Financial Officer, is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) and Rule 15d-15(f) under the Exchange Act. Our internal control system is designed to provide reasonable assurance to our management and board of directors regarding the preparation and fair presentation of published financial statements. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Our management has assessed the effectiveness of our internal control over financial reporting December 31, 2024. In making this assessment, management applied its judgment in evaluating the cost benefit relationship of possible controls and procedures. Based on this assessment, our management has concluded that as of December 31, 2024, our internal control over financial reporting was effective.