Gorilla Technology Prices Offering Of $107M Of 7.50% Senior Unsecured Convertible Notes Due 2031

 The financing is being led by Highbridge Capital Management LLC, a current institutional stakeholder in Gorilla.

The Bonds are being sold in an SEC-registered offering on the Company's "shelf" registration statement on Form F-3 by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, and is expected to close on or about June 5, 2026, subject to customary closing conditions.

When issued, the Bonds will be senior unsecured obligations of the Company, will be issued at 100% of their principal amount, will accrue interest payable semi-annually in arrears at a rate of 7.50% per annum, and will mature on June 5, 2031, unless earlier converted, redeemed or repurchased in accordance with their terms. Interest will be payable in cash or, at the Company's election and subject to certain conditions, ordinary shares of the Company.

The initial conversion rate for the Bonds will be 39.2425 ordinary shares per $1,000 principal amount of Bonds, which is equivalent to an initial conversion price of approximately $25.4826 per ordinary share, and will be subject to adjustment upon the occurrence of certain events. The initial conversion price represents a conversion premium of approximately 17% over the closing price of $21.7800 per ordinary share of the Company on June 2, 2026. The conversion price is subject to two reset mechanisms: one, a downward reset with a floor of $6.00 per ordinary share; the second, an upward reset with a cap of $31.85325 per ordinary share, representing a premium of 46.25% per ordinary share over such closing price.

The Company intends to use the net proceeds from the offering to fund the equity portion of the purchases of data center equipment deployment pursuant to the Company's second project with Yotta Data Services Private Limited, announced on April 29, 2026, with any remaining proceeds to be used for general corporate purposes.