Company: GCTS
Filing Date: 2025-05-13
Form Type: S-3/A
Source: 0001104659-25-047808
Chunk: 40

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-05-13
Form: S-3/A
Chunk 40
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 sufficient number
of shares of Common Stock for issuance upon exercise of the Anapass Warrant and will amend its Certificate of Incorporation as necessary
to authorize these shares. The Anapass Warrant can be transferred, in whole or in part, with the Company's written consent and compliance
with applicable securities laws. The transfer must be recorded in the Company's books, and any necessary transfer tax or governmental
charge must be paid. The holder agrees not to transfer the Anapass Warrant or Common Stock without an effective registration statement
or an exemption from registration under applicable securities laws. The Company may require a satisfactory opinion of counsel to ensure
compliance with these laws.

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Convertible Promissory Note

On
February 26, 2024, GCT issued a convertible promissory note (the “Note”) to the Noteholder in the principal amount of
$5,000,000. On or after the earlier of (i) six months from the issuance date of the Note and (ii) the Closing, the
Noteholder may demand the Company to convert all principal and interests due under the Note into shares of Common Stock, at a conversion
price of $10.00 per share. The Note matures on the second anniversary of the issuance date, and bears an interest rate of 5% per
annum. The Note includes customary representations, warranties and events of default, as well as a covenant relating to the performance
of obligations by the Company related to the Company’s 5G activity.

Dividends

We
have not paid any cash dividends on our Common Stock to date and do not intend to pay cash dividends. The payment of cash dividends in
the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition. The payment
of any cash dividends will be within the discretion of our Board. Our ability to declare dividends may also be limited by restrictive
covenants pursuant to any debt financing agreements.

Listing of Securities

Our Common Stock and our
Public Warrants are currently listed on the NYSE under the symbols “GCTS” and “GCTSW,” respectively. We do not
intend to list the Private Placement Warrants or the Anapass Warrants on any stock exchange or other trading market.

Transfer Agent and Registrar

The
transfer agent and registrar for our Common Stock is Continental Stock Transfer & Trust Company.

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Certain Anti-Take