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28 March 20242 minute read

DLA Piper advises TD Cowen and B. Riley in semiconductor business combination

DLA Piper advised both TD Cowen and B. Riley, financial advisors to Concord Acquisition Corp. and GCT Semiconductors, respectively, in the business combination between GCT and Concord. GCT, a leading fabless designer and supplier of advanced semiconductor solutions, is now a publicly traded company listed as “GCTS” on the NYSE.

The transaction values GCT at approximately US$461 million. The transaction has provided the combined company with approximately US$50 million of gross proceeds to fuel its continued growth.

“Congratulations to our clients TD Cowen and B. Riley, as well as GCT and Concord, on this major business combination,” said Stephen Alicanti, the DLA Piper partner who led the deal team. “It was a pleasure to work on this deal and bring to bear our extensive SPAC and capital markets experience.”

In addition to Alicanti (New York), the DLA Piper team included associates Andrew Wolfe and Alexander Grynszpan (both in New York) with additional support from partners William Bartow (Philadelphia) and Nicholas Klein (Washinton, DC).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, according to Mergermarket, and ranked as a top five most active VC legal advisor in the US and number one in VC, PE and M&A in combined global deal volume according to PitchBook.

DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investment grade and high-yield debt securities.