Gorilla Technology Group Inc.
(NASDAQ:GRRR) stock fell nearly 27% on Wednesday after the company priced a $125 million private offering of senior unsecured convertible notes.
The company plans to use the proceeds to fund its NeutraDC Batam data center project in Indonesia.
The London-based AI infrastructure and security technology company is offering $125 million aggregate principal amount of 7.50% Senior Unsecured Convertible Notes, Series B due 2031.
The private placement is expected to close on or about July 17, subject to customary closing conditions.
