GCT Semiconductor Shares Down on Registered Direct Offering

Dow Jones
2025/05/16
 

By Josh Beckerman

 

GCT Semiconductor Holding shares declined after the company reported an $11 million registered direct offering.

The stock fell 34% to $1.44 Thursday and is down about 38% this year.

GCT agreed to sell 7 million shares and 10.5 million warrants for a combined price of $1.57 each.

For much of the trading day before the offering was announced, GCT shares were slightly below Wednesday's close of $2.20. After the bell Wednesday, the company reported first-quarter results and said it made progress on its transition to 5G chipsets.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

May 15, 2025 14:19 ET (18:19 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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