The San Jose, Calif.-based maker of chips for various 4G wireless devices had planned to raise up to $67.5 million by offering 7.5 million shares at a range of $7 to $9 apiece. GCT Semi, whose investors included Samsung Electronics Co. Ltd., National Semiconductor Corp., Parakletos Ventures and FirstMark Capital.
Shares of the chipmaker, which filed its initial S-1 documents in September, was expected to begin trading Thursday. Another IPO that had been expected this week, mortgage REIT Provident Mortgage Capital Associates, postponed its offering Wednesday.
Despite these signs of IPO market weakness, local business review site Yelp Inc. is still expected to price its shares Thursday evening and begin trading Friday.
The closely watched Yelp offering follows several other social media IPOs -- LinkedIn Corp., Zynga Inc. and Groupon Inc. -- and is set to be followed by the most anticipated offering in the sector, that of Facebook Inc. The social networking leader is expected to price its shares in May.
Palamon Capital Partners LP named Ali Rahmatollahi as associate partner and Christian A. Beck as a board of advisers member. For other updates launch today's Movers & shakers slideshow.
Dan Caruso, the networker's chairman and CEO, talks consolidation, overseas expansion and PE exits with The Deal′s Chris Nolter on the floor of the New York Stock Exchange. More video