GCT Semiconductor Prices Direct Offering At $1.57/Shr, Selling 7M Shares & 10.5M Warrants

GCT Semiconductor Holding, Inc. ("GCT" or the "Company") (NYSE:GCTS), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 7,006,370 shares of its common stock and warrants to purchase up to 10,509,555 shares of common stock at a combined purchase price of $1.57 per share and accompanying warrant in a registered direct offering priced at the market under NYSE rules.

The warrants will have an exercise price of $1.71 per share, will become exercisable six months from issuance and will expire five years following such initial date of exercise. The offering is expected to close on or about May 16, 2025, subject to the satisfaction of customary closing conditions.

The gross proceeds from the offering are expected to be approximately $11 million, before deducting placement agent fees and other offering expenses payable by the Company. GCT intends to use the net proceeds from the offering for working capital and other general corporate purposes.