Gorilla Technology Group Inc. (NASDAQ: GRRR) announced the pricing of $125 million in aggregate principal amount of 7.50% Senior Unsecured Convertible Notes, Series B, due 2031, in a private placement to institutional investors.

The notes, issued at 100% of their principal amount, will mature on June 15, 2031, and accrue interest at 7.50% per annum, payable semi-annually. Interest may be paid in cash or, at the company's election and subject to certain conditions, in ordinary shares. The offering is expected to close on or about July 17, 2026, subject to customary closing conditions.

The initial conversion rate is set at 39.2425 ordinary shares per $1,000 principal amount, equivalent to a conversion price of approximately $25.48 per share. This represents a premium of approximately 52% over the July 14, 2026 closing price of $16.77 per ordinary share. The conversion price is subject to a downward reset with a floor of $8.00 per share and an upward reset capped at $31.85 per share.

The company said it intends to use the net proceeds to fund advance payments to secure committed data center capacity and begin equity purchases of data center equipment for its NeutraDC Batam project in Indonesia, which was announced on June 23, 2026. Any remaining proceeds will be used for general corporate purposes.

The securities have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. Gorilla Technology said it has agreed to file a resale registration statement on Form F-3 with the Securities and Exchange Commission.