$Gorilla Technology (GRRR.US)$ $GRRR priced $125 million of 7.5% senior unsecured convertible notes due 2031, raising capital to accelerate its AI infrastructure expansion.
The company plans to use the proceeds to secure committed data center capacity and purchase equipment for its NeutraDC Batam AI data center project in Indonesia.
The notes have an initial conversion price of approximately $25.48 per share, equivalent to 39.2425 ordinary shares per $1,000 principal amount.
Following the announcement, $GRRR shares fell about 15%, as investors weighed the potential dilution from the convertible notes. However, the financing also provides Gorilla with significant capital to expand its AI and data center business, supporting its long-term growth strategy.
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