B. Riley Securities served as exclusive financial advisor to GCT Semiconductor, a fabless designer and supplier of advanced 5G and 4G LTE semiconductor solutions, in connection with its approximately $667 million business combination with Concord Acquisition Corp III. Upon the closing of the previously announced business combination, GCT Semiconductor began trading on the New York Stock Exchange under the ticker symbol “GCTS.”

The transaction values GCT Semiconductor at an enterprise value of approximately $461 million, with a total pro forma enterprise value of $667 million, which includes 20.6 million performance-based earnout shares.

“Our team is thrilled to be a part of this exciting new chapter for GCT’s growth, and we are looking forward to seeing its continued success as a publicly traded company,” Salomon Kamalodine, managing director at B. Riley Securities, said.

Kamalodine led B. Riley’s team for this transaction alongside Michael Guzman, Alex Shaffer and Ryan Knight.