Gorilla Technology Group (NASDAQ: GRRR) has priced a $125 million senior unsecured convertible bond offering, with the proceeds earmarked for its NeutraDC Batam data center project in Indonesia. The pricing, set for July 15, 2026, marks the second major capital raise in under two months for a company that appears to be sprinting toward becoming a serious player in AI compute infrastructure across Southeast Asia.
Gorilla raised $107 million through a separate convertible notes offering on June 3, 2026. That earlier tranche carried a 7.50% interest rate with an approximately 17% conversion premium and was directed toward equipment purchases for its data center buildout. Combined, the two offerings total roughly $232 million in convertible debt in a remarkably compressed timeframe.
The contract behind the capital
On June 23, 2026, Gorilla disclosed a five-year AI GPU as a Service contract valued at $2.5 billion. The initial deployment phase alone carries a price tag of approximately $1.3 billion.
That first phase involves deploying around 1,000 NVIDIA B300 GPU servers at the NeutraDC Batam facility. Phased deployment is expected to run between September 2026 and the first half of 2027.
