The company intends to direct the proceeds from the series B notes, which carry a 7.5% interest rate and mature on June 15, 2031, toward its expansion in Indonesia. Specifically, the capital will cover advance payments for data center capacity and equipment procurement for the NeutraDC Batam project. This debt issuance marks a significant move for the firm as it scales its infrastructure capabilities in the region.
Gorilla Technology Shares Slide on $125 Million Debt Offering
Investors reacted sharply to Gorilla Technology Group’s announcement that it has priced $125 million in senior unsecured convertible notes. Following the disclosure, shares of the artificial intelligence and cybersecurity firm dropped 15% to $14.26, tempering a rally that had seen the stock climb 32% since the beginning of the year.
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