ADDED
prior to the consummation of the business combination completed on March 26, 2024, and to GCT Semiconductor Holding, Inc.
following such business combination, unless the context otherwise indicates.
became a wholly owned subsidiary of Concord Acquisition Corp III, which was renamed GCT Semiconductor Holding, Inc., and the financial statements included in this Annual Report reflect the results of the combined company for the periods presented.
Certain statements contained in this Annual Report, including statements regarding our plans, strategies, and expectations for our business, constitute forward-looking statements that involve risks and uncertainties and are subject to the cautionary statements set forth under the heading Forward-Looking Statements below.
Forward-looking statements are typically identified by words such as plan, believe, expect, anticipate, intend, outlook, estimate, forecast, project, continue, could, may, might, possible, potential, predict, should, would and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but are not limited to, the following: our ability to successfully commercialize, scale, and achieve market adoption of our 5th generation ( 5G ) products, including through collaboration agreements with our major partners; our financial and business performance, including our financial projections and business metrics; macroeconomic conditions, including labor disputes, fluctuations in the value of the U.S.
dollar, capital markets volatility, inflationary pressures, and disruptions to global supply chains; the imposition of duties and tariffs and other trade barriers and retaliatory countermeasures implemented by the U.S.
and Korea, unrest and sanctions, war, conflict, including the ongoing conflicts between Russia and Ukraine, conflicts in the Middle East, and increasing tensions between China and Taiwan; legislative and regulatory risks, including those relating to changes in laws and regulations and the impact of U.S.
government shutdowns or other governmental disruptions; uncertainties and risks relating to new trade regulations, including tariffs and export control regulations; reputational risks; and other risks and uncertainties indicated or referenced in this Annual Report, including those set forth under the section entitled Risk Factors.
REMOVED
prior to the Business Combination and GCT Semiconductor Holding, Inc.
following the Business Combination unless the context specifically indicates otherwise.
Some of the information contained in this section or set forth elsewhere in this Annual Report on Form 10-K, including information with respect to our plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties.
On March 26, 2024 (the Closing Date ), Concord Acquisition Corp III ( Concord III ), a Delaware corporation, consummated a series of transactions that resulted in the combination of Gibraltar Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Concord III ( Merger Sub ), and GCT Semiconductor, Inc., a Delaware corporation ( GCT ), pursuant to a Business Combination Agreement, dated November 2, 2023 (the Business Combination Agreement ), by and among Concord III, Merger Sub and GCT, as described further below.
Pursuant to the terms of the Business Combination Agreement, a business combination between Concord III and GCT was effected through the merger of Merger Sub with and into GCT, with GCT surviving the merger as a wholly-owned subsidiary of Concord III (the Business Combination ), following the approval by shareholders of Concord III at the special meeting of the stockholders of Concord III held on February 27, 2024 (the Special Meeting ).
Following the consummation of the Business Combination, Concord III was renamed GCT Semiconductor Holding, Inc.
Our forward-looking statements include, but are not limited to, statements regarding our and our management team s expectations, hopes, beliefs, intentions or strategies regarding the future.
The words anticipate, believe, continue, could, estimate, expect, intends, may, might, plan, possible, potential, predict, project, should, will, would and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements are not guarantees of performance.
You should not put undue reliance on these statements which speak only as of the date hereof.