Gorilla Announces $12 Million Registered Direct Offering
07 Junio 2024 - 7:00AM
Gorilla Technology Group Inc. (“Gorilla” or the “Company”) (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
2,142,858 ordinary shares of the Company and warrants to purchase
up to 2,142,858 ordinary shares pursuant to a registered direct
offering (the “Offering”) at a combined purchase price of $5.60 per
ordinary share and accompanying warrant to purchase ordinary
shares. The warrants will have an exercise price of $5.90 per
share, will be immediately exercisable upon issuance and will
expire 5 years from issuance. The gross proceeds to Gorilla from
this Offering, before deducting the placement agents’ fees and
other offering expenses, will be approximately $12 million.
Gorilla intends to use the net proceeds from the
Offering for working capital needs. The closing of the Offering is
expected to occur on or about June 10, 2024, subject to the
satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as the
sole placement agent for the Offering.
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.
In connection with the Offering, the Company has
agreed to reduce the exercise price of its outstanding Series A
ordinary share purchase warrants and Series B ordinary share
purchase warrants, to purchase up to 2,825,000 ordinary shares,
that were issued to the existing institutional investors in the
Company's previous registered direct offerings in September 2023
and February 2024, to $5.90 per ordinary share.
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
gorilla@blueshirtgroup.co
Gorilla Technology (NASDAQ:GRRRW)
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