Gorilla Technology lands $25M in convertible notes, up to $100M facility

What's the deal? Gorilla Technology Group raised $25 million through senior convertible notes from an institutional investor, with a facility that could reach $100 million. The company netted about $24.2 million after a 3% commitment fee and legal costs, signing the agreement on October 29, 2026.

The terms: The initial note carries a $27,775,000 principal, pays no interest, and matures on October 29, 2027. The deal also includes a warrant for 850,612 ordinary shares at $12.8995 and 1,000,000 pre-delivery shares.

What's the endgame? Proceeds will fund advance payments to secure data-center capacity and buy equipment, with the rest for general corporate purposes. The financing extends a capital-intensive push behind Gorilla's Yotta IndiaDealroom has a profile for this one. Try Dealroom → and NeutraDC Batam projects.

Why now? The round follows $107 million in 7.5% convertible notes in June and another $125 million in July, both funding data-center expansion. Later closings could add up to $75 million more, but only by mutual agreement.

What could go wrong? The notes carry a variable-price conversion feature and warrants that threaten dilution. Gorilla agreed to convene a shareholder meeting within 75 days to raise its authorized share count from 73,500,000 to 200,000,000.

The signal: The headline $100 million is not fully committed, and only $25 million is secured upfront. The deal shows continued execution funding for Gorilla's infrastructure build-out — not proof those projects will deliver their expected returns.

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