Company: GRRR
Filing Date: 2025-07-02
Form Type: 424B5
Source: 0001213900-25-060827
Chunk: 31

Company: Gorilla Technology Group Inc.
Filing Date: 2025-07-02
Form: 424B5
Chunk 31
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 a PFIC,
then the ordinary shares, pre-funded warrants or ordinary shares received upon exercise of pre-funded warrants will generally continue
to be treated as an interest in a PFIC, and the U.S. Holder generally will remain subject to the Excess Distribution Rules. A U.S. Holder
that first makes a QEF election in a later year may avoid the continued application of the Excess Distribution Rules to its ordinary shares,
pre-funded warrants or ordinary shares received upon exercise of pre-funded warrants by making a “deemed sale” election. In
that case, the U.S. Holder will be deemed to have sold the ordinary shares, pre-funded warrants or ordinary shares received upon
exercise of pre-funded warrants at their fair market value on the first day of the taxable year in which the QEF election becomes
effective, and any gain from such deemed sale would be subject to the Excess Distribution Rules described above. A U.S. Holder that
is eligible to make a QEF election with respect to its ordinary shares, pre-funded warrants or ordinary shares received upon exercise
of pre-funded warrants generally may do so by providing the appropriate information to the IRS in the U.S. Holder’s timely
filed tax return for the year in which the election becomes effective.

<div align='center'>S-20</div>

U.S. Holders should consult their own tax advisors as to the availability
and desirability of a QEF election.

Alternatively, a U.S. Holder of “marketable
stock” (as defined below) may make a mark-to-market election for its ordinary shares, pre-funded warrants or ordinary shares received
upon exercise of pre-funded warrants to elect out of the Excess Distribution Rules discussed above if Gorilla is treated as a PFIC. If
a U.S. Holder makes a mark-to-market election with respect to its ordinary shares, pre-funded warrants or ordinary shares received
upon exercise of pre-funded warrants, such U.S. Holder will include in income for each year that Gorilla is treated as a PFIC with
respect to such ordinary shares, pre-funded warrants or ordinary shares received upon exercise of pre-funded warrants an amount equal
to the excess, if any, of the fair market value of the ordinary shares, pre-funded warrants or ordinary shares received upon exercise
of pre-funded warrants as of the close of the U.S. Holder’s taxable year over the adjusted basis in the ordinary shares, pre-funded
warrants or ordinary shares received upon exercise of pre-funded warrants. A U