In a recent announcement, GameSquare Holdings, Inc. revealed its decision to voluntarily delist its common shares from the TSX Venture Exchange (TSXV) and continue trading exclusively on the NASDAQ Capital Market [e0c65743]. The delisting is expected to take effect around March 28, 2024. The move comes after GameSquare's acquisition of FaZe, which prompted a review of its dual listing. By consolidating its listing to a single exchange, GameSquare aims to reduce expenses and administrative burdens [e0c65743]. Shareholders are advised to consult their brokers regarding trading on NASDAQ.
Additionally, GameSquare disclosed an amendment to its convertible debenture, increasing the principal amount by US$1,000,000. The debenture is held by a director of the company [e0c65743].
GameSquare's decision to delist from the TSX Venture Exchange aligns with its mission to revolutionize brand engagement with younger audiences through its media network, which includes FaZe Clan. Notable investors in GameSquare include Jerry Jones and the Goff family [e0c65743].
Meanwhile, Movella Holdings Inc. has announced that it will delist its common stock and warrants from the Nasdaq Global Market [0fcc6b43]. The trading of Movella's securities will be suspended after the company files a Form 25 with the Securities and Exchange Commission (SEC) on April 1, 2024. The last trading day for the securities on Nasdaq is expected to be around April 1. Movella's securities will be officially delisted and quoted on an over-the-counter (OTC) market operated by OTC Markets Group Inc. starting April 12. The company's decision to delist is based on its inability to meet Nasdaq's continued listing requirements and the significant operating expenses associated with Nasdaq's disclosure and reporting requirements. Movella plans to reallocate resources towards funding its operations in the future. Movella specializes in motion capture technology and provides sensors, software, and AI analytics for various industries. There is no assurance that trading will continue on an OTC market or otherwise [0fcc6b43].
GCT Semiconductor has completed its business combination with Concord Acquisition Corp III and will begin trading on the NYSE under the ticker symbol 'GCTS' [6980c071]. The transaction values GCT at an enterprise value of approximately $461 million, with a total pro forma enterprise value of $667 million. The combined company has received approximately $50 million in gross proceeds to fuel its growth. GCT Semiconductor is a leading fabless designer and supplier of advanced 5G and 4G LTE semiconductor solutions. Concord Acquisition Corp III is a special purpose acquisition company formed for the purpose of entering into a merger or similar business combination in the financial services or financial technology industries [6980c071].