GCT and Concord Acquisition have completed their merger, launching GCT on the NYSE under the ticker 'GCTS' with a pro-forma valuation of approximately $667 million. The transaction provided GCT with around $50 million in gross proceeds to support the development of a 5G chipset portfolio and expansion into new markets. Approximately $49 million was raised through PIPE and convertible note financing from existing and new investors. Existing GCT stockholders retained their equity, and most outstanding convertible notes will convert to common stock.