Gorilla Technology Prices $125M Convertible Bond to Fund Indonesia Data Center Project
GRRR sits 81% above its 52-week low of $9.04 on light trading volume (0.1× avg).
Summary
Gorilla Technology priced a $125 million senior unsecured convertible bond offering with a 7.50% coupon, maturing in 2031. The initial conversion price of approximately $25.48 per share represents a 52% premium to the last close, with reset mechanisms that could adjust it down to $8.00 or up to $31.85. The initial conversion rate is 39.2425 ordinary shares per $1,000 principal amount of bonds. Proceeds are earmarked for advance payments and equipment purchases for the NeutraDC Batam data center project in Indonesia. This follows a $107 million convertible note offering in early June and a series of large AI infrastructure deals, including a $2.5 billion GPUaaS contract. Shares fell following the pricing of the debt offering.
At the time of this announcement, GRRR was trading at $16.35 on NASDAQ in the Technology sector, with a market capitalization of approximately $453.8M. The 52-week trading range was $9.04 to $23.49. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: TMX Newsfile.