Gorilla Technology Announces Completion of Preferred Share Conversion, Eliminating Overhang and Strengthening Capital Position

Newsfile12-18

London, United Kingdom--(Newsfile Corp. - December 18, 2024) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), today announced the successful completion of the conversion of...

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(NASDAQ: GRRR) (\"Gorilla\" or the \"Company\"), today announced the successful completion of the conversion of...</p>\n\n<a href=\"https://finance.yahoo.com/news/gorilla-technology-announces-completion-preferred-130000931.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Gorilla Technology Announces Completion of Preferred Share Conversion, Eliminating Overhang and Strengthening Capital Position</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGorilla Technology Announces Completion of Preferred Share Conversion, Eliminating Overhang and Strengthening Capital Position\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-18 21:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/gorilla-technology-announces-completion-preferred-130000931.html><strong>Newsfile</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>London, United Kingdom--(Newsfile Corp. - December 18, 2024) - Gorilla Technology Group Inc. (NASDAQ: GRRR) (\"Gorilla\" or the \"Company\"), today announced the successful completion of the conversion of...</p>\n\n<a href=\"https://finance.yahoo.com/news/gorilla-technology-announces-completion-preferred-130000931.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GRRR","symbol_name":"Gorilla Technology","start_time":0,"source_url":"https://finance.yahoo.com/news/gorilla-technology-announces-completion-preferred-130000931.html","article_id":"2492040185","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/.NgCLppV.BtiM6HolxQ0Ow--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/newsfile_64/6ba0c3edf3051d24f1bc56895eaa27d8"],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/gorilla-technology-announces-completion-preferred-130000931.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2492040185","pubTimestamp":1734526800,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"London, United Kingdom-- - Gorilla Technology Group Inc.  , today announced the successful completion of the conversion of its preferred shares, marking a pivotal moment in the company's capital structure. This milestone effectively eliminates any overhang associated with the preferred shares, providing clarity and a strengthened foundation for future growth.The completion of the conversion's underscores confidence in Gorilla's long-term potential and removes any lingering dilution concerns, benefiting all shareholders. With no further preferred share overhang, Gorilla is now better positioned to execute on its ambitious growth plans while focusing on building long-term value.The company reaffirms its commitment to pursuing non-dilutive funding options for working capital, particularly for its large-scale, high-impact projects. With a stronger and clearer capital structure, Gorilla is prioritising cash flow generation and strategic capital deployment to accelerate growth while safeguar","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GRRR":"Gorilla Technology","GRRRW":"Gorilla Technology Group Inc","WRD":"文远知行","PHH":"Park Ha Biological Technology Co. Ltd.","BK4023":"应用软件"},"translate_title":"大猩猩科技宣布完成优先股转换，消除过剩并加强资本状况","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRRR":1,"PHH":1,"WRD":1,"GRRRW":0.9},"content_text":"London, United Kingdom--(Newsfile Corp. - December 18, 2024) - Gorilla Technology Group Inc. (NASDAQ: GRRR) (\"Gorilla\" or the \"Company\"), today announced the successful completion of the conversion of its preferred shares, marking a pivotal moment in the company's capital structure. This milestone effectively eliminates any overhang associated with the preferred shares, providing clarity and a strengthened foundation for future growth.\nThe completion of the conversion's underscores confidence in Gorilla's long-term potential and removes any lingering dilution concerns, benefiting all shareholders. With no further preferred share overhang, Gorilla is now better positioned to execute on its ambitious growth plans while focusing on building long-term value.\nPositioned for Strategic, Non-Dilutive Growth\nThe company reaffirms its commitment to pursuing non-dilutive funding options for working capital, particularly for its large-scale, high-impact projects. With a stronger and clearer capital structure, Gorilla is prioritising cash flow generation and strategic capital deployment to accelerate growth while safeguarding shareholder value.\nAs part of its broader strategy, Gorilla is also focused on optimising capital through the release of cash from real estate and other assets, enabling the company to redeploy resources toward high-value opportunities.\nShareholder Value Creation\nGorilla's leadership continues to believe the company's shares are significantly undervalued relative to its strong pipeline and market potential. The active share repurchase programme remains a key component of Gorilla's commitment to enhancing shareholder value.\nJay Chandan, Chairman & CEO of Gorilla Technology, commented: \"The completion of our preferred share conversions marks the end of a necessary phase in our journey and removes any perceived overhang in the market. This milestone clears the path for a stronger, more transparent capital structure as we continue to execute on our growth strategy. Our focus remains on building long-term value, pursuing non-dilutive funding and leveraging our repurchase programme to reflect our confidence in Gorilla's future.\"\nAbout Gorilla Technology Group Inc.\nHeadquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.\nOur expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.\nFor more information, please visit our website: Gorilla-Technology.com.\nForward-Looking Statements \nThis press release contains \"forward-looking statements\" within the meaning of the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as \"expect,\" \"estimate,\" \"project,\" \"budget,\" \"forecast,\" \"anticipate,\" \"intend,\" \"plan,\" \"may,\" \"will,\" \"could,\" \"should,\" \"believes,\" \"predicts,\" \"potential,\" \"might\" and \"continues,\" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about the capabilities of our GPU offering, our ability to deliver products at competitive prices, our ability to service our customers, the growth of the Smart City market, the capabilities of our third party vendors, our ability to attract the attention of customers and win additional projects, along with those other risks described under the heading \"Risk Factors\" in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the \"SEC\") on May 15, 2024 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.\n\nInvestor Relations Contact:\nDave GentryRedChip Companies, Inc.1-407-644-4256GRRR@redchip.com\n\n\nTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/234289","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492040185"}