B. Riley Securities served as exclusive financial advisor to GCT Semiconductor, Inc. in connection with its ~$667 million business combination with Concord Acquisition Corp III. Upon the closing of the previously announced business combination, the Company began trading on NYSE under the ticker symbol “GCTS.”
The transaction values GCT at an enterprise value of approximately $461 million, with a total pro forma enterprise value of $667 million, which includes 20.6 million performance-based earnout shares. Read more about the transaction here.
Salomon Kamalodine, Managing Director at B. Riley Securities, commented, “Our team is thrilled to be a part of this exciting new chapter for GCT’s growth, and we are looking forward to seeing its continued success as a publicly traded company.”
GCT is a leading fabless designer and supplier of advanced 5G and 4G LTE semiconductor solutions. GCT’s market-proven solutions have enabled fast and reliable 4G LTE connectivity to numerous commercial devices such as CPEs, mobile hotspots, routers, M2M applications, smartphones, etc., for the world’s top wireless carriers. For more information, visit www.gctsemi.com.
B. Riley's team was led by Salomon Kamalodine and Michael Guzman and included Alex Shaffer and Ryan Knight.