Company: GRRR
Filing Date: 2025-07-02
Form Type: 424B5
Source: 0001213900-25-060827
Chunk: 28

Company: Gorilla Technology Group Inc.
Filing Date: 2025-07-02
Form: 424B5
Chunk 28
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 rules, if Gorilla were considered a PFIC at any time that a U.S. Holder owns ordinary shares, pre-funded warrants
or ordinary shares received upon exercise of pre-funded warrants, Gorilla would continue to be treated as a PFIC with respect to such
investment unless (i) it ceased to be a PFIC and (ii) the U.S. Holder made a “deemed sale” election under the
PFIC rules. If such election is made, a U.S. Holder will be deemed to have sold its ordinary shares, pre-funded warrants or ordinary
shares received upon exercise of pre-funded warrants at their fair market value on the last day of the last taxable year in which
Gorilla is classified as a PFIC, and any gain from such deemed sale would be subject to the consequences described below. After the deemed
sale election, the ordinary shares, pre-funded warrants or ordinary shares received upon exercise of pre-funded warrants with respect
to which the deemed sale election was made will not be treated as shares in a PFIC unless Gorilla subsequently becomes a PFIC.

For each taxable year that Gorilla is treated
as a PFIC with respect to a U.S. Holder’s ordinary shares, pre-funded warrants or ordinary shares received upon exercise of
pre-funded warrants, the U.S. Holder will be subject to special tax rules with respect to any “excess distribution” (as
defined below) received and any gain realized from a sale or disposition (including a pledge) of its ordinary shares, pre-funded warrants
or ordinary shares received upon exercise of pre-funded warrants (collectively the “Excess Distribution Rules”), unless the
U.S. Holder makes a valid QEF election or mark-to-market election as discussed below. Distributions received by a U.S. Holder
in a taxable year that are greater than 125% of the average annual distributions received during the shorter of the three preceding taxable years
or the U.S. Holder’s holding period for the ordinary shares, pre-funded warrants or ordinary shares received upon exercise
of pre-funded warrants will be treated as excess distributions. Under these special tax rules:

| ● | the                                                                                                                            
 excess distribution or gain will be allocated ratably over the U.S. Holder’s holding period for the ordinary shares pre-funded 
 warrants or ordinary shares received upon exercise of pre-funded warrants;                                                     |

| ● | the                                                                                                                  
 amount allocated to the current taxable year, and any taxable years in the U.S. Holder’s holding period prior to the