Company: GCTS
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0000929638-25-001281
Chunk: 128

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-26
Form: 424B3
Chunk 128
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 stock forward valuation using the DCF model were as follows: a remaining term of 1.4 years and future risk-free rate estimates ranging from 4.16% to 4.40% for this period. As of December 31, 2024, the key inputs for the convertible promissory notes, net of current, using the BLM were as follows: stock price of $2.33, implied volatility of 53.10%, remaining term of 1.2 years, risk-free rate of 4.17%, and credit spread of 5.20%. As of December 31, 2024, the key inputs for the private placement warrants using the BSM were as follows: exercise price of $11.50 per share, term to expiration of 4.2 years, implied volatility of 53.10%, and a risk-free rate of 4.29%. As of December 31, 2024, the key inputs for the public warrants using the BLM were as follows: exercise price of $11.50 per share and term to expiration of 4.2 years. As of December 31, 2024, the key inputs for the other warrant liabilities using the BSM were as follows: an exercise price of $10.00 per share, or $18.75 per share, term to expiration ranging from 1.2 years to 1.8 years, volatility ranging from 48.10% to 49.70%, and a risk-free rate ranging from 4.13% to 4.19%. As of December 31, 2023, the PWERM was used as Legacy GCT was a private company. After the Closing, and as of December 31, 2024, the valuation techniques used reflect that the Business Combination was consummated.

The following table sets forth a summary of the changes in the fair value of the convertible promissory notes (in thousands):

| As of December 31, 2023 |     | $ |  34,033 |   |
| Conversion              |     |   | (41,209 | ) |
| Borrowing               |     |   |  16,290 |   |
| Repayment               |     |   |  (5,637 | ) |
| Change in fair value    |     |   |   1,470 |   |
| As of December 31, 2024 |     | $ |   4,