GCT Semiconductor IPO AMENDMENT NO. 3 TO FORM S-1 summary ( Filing Date: 2012-02-15 ):
The company proposes selling 7,500,000 shares of the its common stock and after the offering there would be 39,016,382 shares of common stock outstanding.
The GCT Semiconductor IPO price is expected to be between $7.00 and $9.00 per share.
The Company intends that the GCT Semiconductor stock will be traded on the NASDAQ Global Market under the ticker symbol “GCTS“.
Merrill Lynch, Pierce, Fenner & Smith Incorporated is the representative of the underwriters for the GCT Semiconductor IPO. The underwriters may exercise their option to purchase up to an additional 1,125,000 shares at the the GCT Semiconductor IPO price and have 30 days to exercise the option after the date of this prospectus to cover over-allotments.
GCT Semiconductor intends to use approximately $8.6 million of the net proceeds from this offering to repay the outstanding principal and interest under its bank loans and to use the remaining net proceeds for other working capital and general corporate purposes, which may include funding research and development of new products and technologies, expansion of its sales and marketing efforts, general and administrative expenditures and other capital expenditures to support its operations.The company may also use a portion of the net proceeds of this offering to expand its current business through acquisitions of, or investments in, other complementary businesses, products, intellectual property, or technologies.
GCT Semiconductor is a leading fabless designer and supplier of advanced 4G mobile semiconductor solutions. As of December 31, 2011, the company has shipped approximately 1.8 million LTE semiconductors in support of the initial LTE deployments by AT&T, Metro PCS, Verizon, Vodafone and Yota, and approximately 5.4 million WiMAX semiconductors supporting many major WiMAX operators around the world. Click to view the related post about GCT Semiconductor IPO.
Let’s have a look at the financial performance of GCT Semiconductor over the past three years:
The company realized revenues of $22.4 million, $33.1 million, $68.6 million for the fiscal years ended June 30, 2009, 2010, 2011, respectively, and $44.9 million for the six months ended December 31, 2011.
The company reported net losses of $14.5 million, $19.9 million, $11.5 million and $6.8 million during the years ended June 30, 2009, 2010, 2011 and the six months ended December 31, 2010, respectively, and the company’s net income was $4.5 million during the six months ended December 31, 2011.
As of December 31, 2011, GCT Semiconductor accumulated deficit was $188.4 million.
GCT Semiconductor IPO