The largest shareholder and strategic investor in GCT, Anapass, Inc., has signed a term loan agreement (the “Debt Financing”) with GCT Semiconductor Holding. A senior secured term loan of about $10.7 million (KRW 15,000,000,000) is fully funded by the debt financing.
Following the successful completion of 5G chipset sample to GCT’s primary customers, Orbic North America and Airspan Networks, the debt financing was completed.
Positive consumer feedback, including the recent announcements from Gogo and Airspan, supported these samplings. GCT thinks it is in a good position for the upcoming commercial release of its new 5G chipset.
Working capital needs, such as final production readiness and getting ready for mass manufacturing and large shipments of the 5G chipsets, will be covered by the proceeds. GCT is still planning to start shipping its 5G chipsets in the fourth quarter of 2025.
Leadership Comments
“We greatly value the continued support from Anapass, our largest shareholder,” said John Schlaefer, CEO of GCT. “This financing underscores confidence in the commercial launch of our 5G chipset and the significant growth opportunities ahead.”
The loan bears interest at an annual rate of 7.00%, payable monthly, and matures in one year.
