Streetbeat News

CNDB

Concord Acquisition Corp III

Open

9.64

Mkt cap

83M

Volume

9.1K

High

9.64

P/E Ratio

-73.11

52-wk high

17.61

Low

6.58

Div yield

N/A

52-wk low

6.20

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.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 7:00 am

GCT Semiconductor, a leading provider of 4G and 5G integrated circuit solutions, has announced the appointment of Edmond Cheng as its new Chief Financial Officer (CFO).

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 8:04 pm

GCT Semiconductor and Concord Acquisition Corp III (NYSE:CNDB) announced the SEC's approval of their Registration Statement for a proposed business combination. A special meeting for Concord's stockholders is set for February 27, 2024, to vote on the merger. Post-merger, the combined entity plans to list its shares and warrants on the NYSE under the symbols 'GCTS' and 'GCTSW', respectively, following the audit of GCT's 2023 financial statements.

Portfolio Pulse from Happy Mohamed

February 15, 2024 | 9:18 pm

Concord Acquisition Corp III (CNDB) received a noncompliance notification from the NYSE due to having fewer than 300 public stockholders, violating Section 802.01B of the NYSE Listed Company Manual. The company has 45 days to submit a plan to regain compliance within 18 months. The stock will remain listed during this period, pending NYSE approval of the plan and adherence to other listing standards.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 1:08 pm

GCT Semiconductor is set to become a publicly listed company through a merger with Concord Acquisition Corp III. The pro forma valuation of GCT is $661 million, with an initial enterprise value of approximately $461 million. The transaction is expected to provide GCT with up to $87 million in gross proceeds to fund the development of a full-band 5G chipset portfolio and expansion into new markets.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 12:06 pm

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