Gorilla Announces $10 Million Registered Direct Offering of Convertible Preferred Stock
15 Février 2024 - 2:00PM
Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global
solution provider in Security Intelligence, Network Intelligence,
Business Intelligence, and IoT technology, today announced that it
has entered into securities purchase agreements with existing
institutional investors for the purchase and sale of 10,000 Series
B convertible preference shares (the “Series B preference shares”)
at a purchase price of $1,000 per share pursuant to a registered
direct offering. Each Series B preference share is convertible into
ordinary shares of Gorilla at a conversion price of $1.10 per
share. Along with the Series B preference shares, Gorilla further
agreed to issue to the investors Series B ordinary share purchase
warrants (the “Series B warrants”) to purchase up to an aggregate
of 8,250,000 ordinary shares of Gorilla. The Series B warrants will
have an exercise price of $1.50, will be exercisable immediately
and will expire five years from the date of issuance. The closing
of the offering is expected to occur on or about February 20, 2024,
subject to the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as
sole placement agent for the offering.
The gross proceeds to Gorilla from this offering
are expected to be approximately $10 million, before deducting the
placement agents’ fees and other offering expenses. Gorilla intends
to use the net proceeds from the offering for working capital
needs.
The securities described above are being offered
pursuant to a shelf registration statement on Form F-3 (File No.
333-274053) that was filed with the Securities and Exchange
Commission (the “SEC”) on August 17, 2023 and declared effective by
the SEC on August 29, 2023. The offering is being made by means of
a prospectus, including a prospectus supplement, that form part of
the registration statement. A final prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC. Electronic copies of the final prospectus supplement and
accompanying prospectus may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Investor Relations Contact:
Cody Fletcher The Blueshirt Group for Gorilla +1 (434) 251-7165
gorillair@blueshirtgroup.com
Media Contact:James
McCuskerCanaan Parish Group Inc.+1 (203)
585-4750canaanparishgroup@gmail.com
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