Gorilla Technology Enters Securities Purchase Agreements For $12M Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
Gorilla Technology has entered into securities purchase agreements for a $12 million registered direct offering. The offering includes the sale of 2,142,858 ordinary shares and warrants to purchase an equal number of shares at $5.60 per share. The warrants are exercisable at $5.90 per share and will expire five years from issuance.
June 07, 2024 | 12:09 pm
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Gorilla Technology's $12M registered direct offering involves the sale of 2,142,858 shares and warrants at $5.60 per share, with warrants exercisable at $5.90 per share, expiring in 5 years.
The direct offering will provide Gorilla Technology with additional capital, which could be used for growth initiatives. However, the issuance of new shares and warrants may dilute existing shareholders' equity, leading to a neutral short-term impact on the stock price.
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