Gorilla Technology slides after $105 million direct stock deal

Gorilla Technology

30/06/2025 14:48

** Gorilla Technology Group's GRRR.O shares slide 15.1% to $19.01 in early trading

** Smart City offerings provider agrees to sell 6 million shares at $17.50 apiece in a registered direct offering for proceeds of $105 million

** Direct stock deal led by a $100 million investment from a new institutional investor and includes participation from an existing shareholder

** Offering priced at a 21.8% discount to stock's last close

** GRRR plans to use the proceeds for working capital needs, including establishing performance guarantees and statutory capital reserves as well to meet bid requirements for various projects

**  Titan Partners Group, a division of American Capital Partners, is the sole placement agent for the offering

**  Two brokerages cover stock with "buy" rating; median PT is $31 - data compiled by LSEG

** As of last close, GRRR stock up 23.9% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))