GCT Semiconductor announces $11M registered direct offering

GCT Semiconductor (GCTS) Holding announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 7.01M shares of its common stock and warrants to purchase up to 10.51M 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, subject to the satisfaction of customary closing conditions. Roth Capital Partners is acting as the exclusive placement agent for the offering.