Company: GRRR
Filing Date: 2025-07-02
Form Type: 424B5
Source: 0001213900-25-060827
Chunk: 9

Company: Gorilla Technology Group Inc.
Filing Date: 2025-07-02
Form: 424B5
Chunk 9
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 failure to apply these funds effectively could
have a negative effect on our business and cause the price of our ordinary shares to decline.

A large number of ordinary shares may be sold in the market following this offering, which may depress the market price of our ordinary shares.

All of our ordinary shares
and ordinary shares underlying the pre-funded warrants sold in the offering will be freely tradable upon issuance without restriction
or further registration under the Securities Act. As a result, a substantial number of our ordinary shares may be sold in the public market
following this offering, which may cause the market price of our ordinary shares to decline. If there are more ordinary shares offered
for sale than buyers are willing to purchase, then the market price of our ordinary shares may decline to a market price at which buyers
are willing to purchase the offered ordinary shares and sellers remain willing to sell the ordinary shares.

You will experience immediate and substantial dilution in the book value per share of the ordinary shares you purchase in the offering. In addition, holders of our ordinary shares may incur dilution due to issuances pursuant to the exercise of outstanding options or warrants or the conversion of outstanding preference shares.

You will incur immediate and
substantial dilution as a result of this offering. The offering price per ordinary share offered pursuant to this prospectus supplement
is substantially higher than the net tangible book value per ordinary share. Accordingly, at the offering price of $17.50 per ordinary
share, purchasers of ordinary shares in this offering will experience immediate dilution of $9.63 per ordinary share in as adjusted net
tangible book value of the ordinary shares. In addition, as of June 27, 2025, there were 48,900 ordinary shares issuable subject to outstanding
options at a weighted average exercise price of $11.66 per share, 600,000 ordinary shares issuable upon the exercise of outstanding Series
C Ordinary Share Purchase Warrants at an exercise price of $5.90 per share and 958,272 ordinary shares issuable upon the exercise of outstanding
warrants. In addition, there are 179,609 ordinary shares issuable pursuant to vested, deferred restricted stock units. To the extent that
additional ordinary shares are issued upon exercise of these outstanding options or warrants. Furthermore, if the pre-funded warrants
offered hereby or the Placement Agent Warrants are exercised, you will incur further dilution. See “Dilution” for a more detailed
discussion of the dilution you will incur if you purchase ordinary