Company: GRRR
Filing Date: 2025-07-02
Form Type: 424B5
Source: 0001213900-25-060827
Chunk: 24

Company: Gorilla Technology Group Inc.
Filing Date: 2025-07-02
Form: 424B5
Chunk 24
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 election in effect to be treated 
 as a “United States person” (within the meaning of Section 7701(a)(30) of the Code) for U.S. federal                  
 income tax purposes.                                                                                                  |

If an entity or arrangement treated as a partnership
for U.S. federal income tax purposes holds ordinary shares and/or pre-funded warrants, the tax treatment of an owner of such entity
will depend on the status of the owners, the activities of the entity or arrangement and certain determinations made at the owner level.
Accordingly, entities or arrangements treated as partnerships for U.S. federal income tax purposes and the partners in such partnerships
should consult their tax advisors regarding the U.S. federal income tax consequences to them.

THE U.S. FEDERAL INCOME TAX CONSEQUENCES APPLICABLE TO HOLDERS OF ORDINARY SHARES AND PRE-FUNDED WARRANTS WILL DEPEND ON EACH HOLDER’S PARTICULAR TAX CIRCUMSTANCES. YOU ARE URGED TO CONSULT YOUR TAX ADVISOR REGARDING THE U.S. FEDERAL, STATE, AND LOCAL, AND NON-U.S. INCOME AND OTHER TAX CONSEQUENCES TO YOU, IN LIGHT OF YOUR PARTICULAR INVESTMENT OR TAX CIRCUMSTANCES, OF ACQUIRING, HOLDING, AND DISPOSING OF ORDINARY SHARES AND PRE-FUNDED WARRANTS.

Treatment of the Pre-Funded Warrants

Although it is not entirely free from doubt, we believe a pre-funded
warrant should be treated as an ordinary share for U.S. federal income tax purposes and a holder of pre-funded warrants should generally
be taxed in the same manner as a holder of such ordinary shares, as described below. Accordingly, no gain or loss should be recognized
upon the exercise of a pre-funded warrant and, upon exercise, the holding period of a pre-funded warrant should carry over to the ordinary
share received. Similarly, the tax basis of the pre-funded warrant should carry over to the ordinary share received upon exercise, increased
by the exercise price of $0.0001 per share. However, such characterization is not binding on the IRS, and the IRS may treat the pre-funded
warrants as warrants to acquire ordinary shares. If so, the amount and character of a U.S. Holder’s gain with respect to an investment
in pre-funded warrants could change, and a U.S. Holder may not be entitled to make the “Mark-to-Market Election” described
below with respect to the pre-funded warrants to mitigate PF