Reported Earlier, GCT And Concord Acquisition Complete Merger, Launch "GCTS" On NYSE With ~$667M Pro-Forma Valuation
$CNDB
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Finance
- Transaction values GCT at a pro forma enterprise value of approximately $461 million at closing
- Pro forma valuation of GCT of up to approximately $667 million, which includes up to 20.6 million performance-based earnout shares
- Transaction provided GCT approximately $50 million of gross proceeds to finalize development of a full-band 5G chipset portfolio as well as for expansion into new markets
- Approximately $49 million has been funded via fully committed PIPE and convertible note financing from both existing and new investors of GCT
- All GCT existing stockholders retained their equity holdings through GCT's transition into the publicly listed company and substantially all outstanding convertible notes will convert into common stock at closing