GRRR Stock Slips Premarket After Worst Day In Over A Month: Gorilla Says SEC Won’t ‘Review’ $125M Note Filing

• The company plans to have the registration statement declared effective on Aug.21.
• The notes initially convert at about $25.48 per share, a 52% premium to Gorilla’s July 14 close.
• Its Batam and Yotta projects represent billions in expected or estimated revenue and more than 25,000 planned GPUs.

Shares of Gorilla Technology (GRRR) slipped 0.2% in Tuesday’s premarket trading after suffering their worst session in over a month, as the company said the SEC would not review a registration filing related to $125 million of convertible notes. 

GRRR stock declined 9% on Monday, snapping seven straight sessions in the green. 

SEC Won’t Review Gorilla’s Note Filing 

Gorilla plans to have the registration statement declared effective on Aug. 21. The company issued $125 million of 7.5% senior unsecured convertible notes due in 2031 last month. The company subsequently filed a registration statement allowing holders to resell the notes and any shares issued upon conversion.

Gorilla said the SEC notified it on Aug. 14 that it would not review the filing. The company distributed a draft prospectus supplement to known noteholders the next day. The notes initially convert at about $25.48 per share, a 52% premium to Gorilla’s July 14 closing price.

Gorilla Funds Asian AI Expansion 

The offering formed part of two financings that raised a combined $232 million to support Gorilla’s AI infrastructure programs in Indonesia and India. CEO Jay Chandan said the latest capital primarily supports the NeutraDC Batam project, which is for a signed five-year contract representing $2.5 billion in expected revenue. “This is not capital raised in the hope that Gorilla will subsequently find a customer,” Chandan said. “The customer contract is signed.”

The first Batam deployment is planned in two tranches targeted for September and December, with the remaining capacity expected during the first half of 2027. Revenue would begin as contracted capacity is deployed and accepted. Gorilla’s earlier financing supports the Yotta 2 program in New Delhi, structured around 20,736 next-generation GPUs and an estimated project value of $2.5 billion.

The smaller Yotta 1 program includes 640 servers and 5,120 GPUs, expected to be deployed by the end of August. Gorilla estimates the project will generate approximately $500 million over five years.

Gorilla Eyes $18B Thailand Opportunity

Gorilla is separately developing a proposed 200-megawatt AI data-center campus in Korat, Thailand. At full utilization, the company estimates it could accommodate up to 110,000 next-generation GPU equivalents and generate between $16 billion and $18 billion over five years. Unlike the Indonesia contract, the Thailand estimate depends on customer commitments, financing, equipment configuration, deployment and utilization.

Gorilla has also acquired Shackleton Finance and launched Gorilla Tech Capital last month to attract institutional funding for AI infrastructure, while reducing its reliance on corporate equity raises. 

How Do Retail Traders Feel About GRRR?

On Stocktwits, retail sentiment for GRRR jumped to ‘bullish’ from ‘neutral’ levels a week ago amid a 783% surge in 24-hour message volumes.

One user called the dip “$GRRR another buying opportunity if this lasts more than a day. Have the day you deserve.”

Another user said, “$GRRR dealers have to kill the $15 strike calls this week but after that we have clear runway to go above $20”

GRRR stock has declined 14% over the past year.

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