Company: GCTS
Filing Date: 2025-05-30
Form Type: S-3/A
Source: 0001104659-25-054969
Chunk: 28

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-05-30
Form: S-3/A
Chunk 28
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 (as defined below);                                                                  |

| · | if,                                                                                                 
 and only if, the Reference Value (as defined above under “Redemption of Public Warrants             
 When the Price per Share of Our Common Stock Equals or Exceeds $18.00”) equals or exceeds           
 $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations 
 and the like and certain issuances of Common Stock and equity-linked securities); and               |

| · | if                                                                                                
 the Reference Value is less than $18.00 per share (as adjusted for stock splits, stock dividends, 
 reorganizations, recapitalizations and the like and certain issuances of Common Stock and         
 equity-linked securities) the Private Placement Warrants must also be concurrently called         
 for redemption on the same terms (except as described above with respect to a holder’s            
 ability to cashless exercise its Public Warrants) as the outstanding Public Warrants, as          
 described above.                                                                                  |

The numbers in the table
below represent the number of shares of our Common Stock that a Public Warrant holder will receive upon exercise in connection with a
redemption by us pursuant to this redemption feature, based on the “fair market value” of our Common Stock on the corresponding
redemption date (assuming holders elect to exercise their Public Warrants and such Public Warrants are not redeemed for $0.10 per Public
Warrant), determined based on volume-weighted average price of our Common Stock as reported during the ten trading days immediately following
the date on which the notice of redemption is sent to the holders of Public Warrants, and the number of months that the corresponding
redemption date precedes the expiration date of the Public Warrants, each as set forth in the table below. We will provide our Public
Warrant holders with the final fair market value no later than one business day after the 10-trading day period described above ends.

Pursuant to the Public Warrant
agreement, references above to shares of our Common Stock shall include a security other than shares of our Common Stock into which the
shares of our Common Stock have been converted or exchanged for in the event we are not the surviving company in our initial business
combination. The numbers in the table below will not be adjusted when determining the number of shares of our Common Stock to be issued
upon exercise of the Public Warrants if we are not the surviving entity following our initial business combination.

The stock prices set forth
in the column