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.