Concord Acquisition III said it was told by the NYSE that it does not comply with the 300 minimum sharehold requirement for a continued listing.
The SPAC said it will submit a plan to regain compliance within the 18-month grace period.
Concord Acquisition III and GCT Semiconductor in November announced a business combination agreement at an initial enterprise value of $461 million.
The target is a designer and supplier of advanced LTE, IoT and 5G semiconductor solutions. Read more.
