Gorilla prices $107M 7.5% convertible bonds to fund data centers

Gorilla Technology Group Inc. announced the pricing of $107 million aggregate principal amount of 7.50% Senior Unsecured Convertible Notes due 2031 to be used to fund the equity portion of data center equipment purchases for its second project with Yotta Data Services Private Limited.

• Offering details: Gorilla priced $107 million aggregate principal amount of 7.50% Senior Unsecured Convertible Notes due 2031, expected to close on or about June 5, 2026; the Bonds are issued at 100% of principal, pay interest semi-annually (7.50% per annum) payable in cash or, at the Company’s election, ordinary shares, and have an initial conversion rate of 39.2425 ordinary shares per $1,000 principal (initial conversion price ≈ $25.4826 per share, ~17% premium to the June 2, 2026 close). The conversion price includes a downward reset floor of $6.00 and an upward reset cap of $31.85325 per ordinary share.
• Context and implementation: The financing is led by Highbridge Capital Management LLC; Benchmark, a StoneX Company, and StoneX Financial, Inc. are joint Placement Agents; the Bonds are being offered under the Company’s Form F-3 shelf registration (prospectus/prospectus supplement to be filed with the SEC). Net proceeds are intended to fund the equity portion of purchases of data center equipment for Gorilla’s second project with Yotta Data Services Private Limited (announced April 29, 2026), with any remaining proceeds for general corporate purposes. Contact details and final prospectus will be available via the SEC website and the Placement Agent contact provided.