Gorilla Announces Delivery of CVR Payment Notice
Gorilla Technology Group (NASDAQ: GRRR) announced that holders of its Class A and Class B contingent value rights (CVRs) are entitled to a distribution of Gorilla ordinary shares, subject to the Contingent Value Rights Agreement.
Rhea-AI Summary
Gorilla Technology Group (NASDAQ: GRRR) announced that holders of its Class A and Class B contingent value rights (CVRs) are entitled to a distribution of Gorilla ordinary shares, subject to the Contingent Value Rights Agreement. On June 12, 2026, the SPAC Representative and Company Representative instructed the Escrow Agent that 560,000 Earnout Shares had been forfeited by Company shareholders. On July 17, 2026, a CVR Payment Notice designated these 560,000 shares as Revenue Protection Shares, equal to 0.085134912 ordinary shares per CVR for Qualifying CVR Holders. To qualify, holders must email a detailed Valid Notice to Gorilla within one year, or the underlying ordinary shares will be deemed forfeited.
Positive
- 560,000 forfeited Earnout Shares allocated as Revenue Protection Shares for CVR holders
- Per-CVR entitlement set at 0.085134912 ordinary shares for Qualifying CVR Holders
Negative
- Ordinary shares forfeited if holder does not qualify within one year
- Becoming a Qualifying CVR Holder requires submitting a detailed Valid Notice to Gorilla
Details
News Market Reaction – GRRR
On Jul 20, the first trading day after this news, GRRR closed 0.91% above the previous close. Our momentum scanner recorded 4 alerts for this stock that day.
Data tracked by StockTitan Argus for the Jul 20 session.
Key Figures
- Forfeited earnout shares
- 560,000 shares
- Shares identified as Revenue Protection Shares
- Distribution per CVR
- 0.085134912 ordinary shares
- Per CVR held by Qualifying CVR Holders
- CVR Payment Notice date
- July 17, 2026
- Notice delivered by the SPAC Representative and Company
- Qualification deadline
- One year
- Deadline following delivery of the CVR Payment Notice
- Agreement filing date
- July 19, 2022
- Contingent Value Rights Agreement filed on Form 6-K
- Forfeiture instruction date
- June 12, 2026
- Written instructions delivered to the Escrow Agent
Historical Context
-
Priced $125 million convertible bond offering for Indonesia data center project
-
Completed Shackleton Finance acquisition and launched Gorilla Tech Capital
-
Signed five-year AI GPUaaS compute contract expected to generate US$2.5 billion
-
Priced $107 million convertible bond offering for data center equipment
-
Announced US$2 billion AI infrastructure supply arrangement with Supermicro
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
contingent value rights financial
form 6-k regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
London, United Kingdom--(Newsfile Corp. - July 17, 2026) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla") today announced that each holder of Gorilla's Class A contingent value rights and Class B contingent value rights (together, "CVRs") will be entitled to a distribution of Gorilla ordinary shares, subject to restrictions provided for in the Contingent Value Rights Agreement included as Exhibit 4.1 of Gorilla's Form 6-K filed with the SEC on July 19, 2022 (the "Contingent Value Rights Agreement"). All capitalized terms in this press release that are not defined shall have the meaning assigned to them in the Contingent Value Rights Agreement.
On June 12, 2026, the SPAC Representative and the Company Representative jointly delivered written instructions to the Escrow Agent advising that 560,000 Earnout Shares had been forfeited by the Company Shareholders. On July 17, 2026, the SPAC Representative and the Company jointly delivered a CVR Payment Notice identifying such 560,000 shares as Revenue Protection Shares, equating to 0.085134912 Ordinary Shares per CVR held by Qualifying CVR Holders.
A holder of Class A CVRs or Class B CVRs may become a Qualifying CVR Holder by sending a notice (a "Notice") containing the following information to cvr@gorilla-technology.com:
- Legal name
- Mailing Address
- Country of residence
- Citizenship
- United States Taxpayer Identification Number or Social Security Number
- A signed and dated United States Internal Revenue Service W-8 or W-9
- Email Address
- The Number of Class A CVRs and Class B CVRs held by the holder as of July 17, 2026.
- If CVRs are held in a brokerage account, then the name and contact details of the brokerage firm.
A Notice is invalid (an "Invalid Notice") unless the Notice contains all the information above and sufficient detail to cause Gorilla to believe with a commercially reasonable degree of certainty that the content of the Notice is accurate (a "Valid Notice"). If Gorilla determines in good faith that a Notice is an Invalid Notice, Gorilla will inform the sender of the Notice that the Notice is an Invalid Notice through a reply to the email containing the Invalid Notice. If the sender of an Invalid Notice subsequently provides information or otherwise enables Gorilla to verify information such that the total mix of information available to Gorilla would constitute a Valid Notice, then the sender shall be deemed to have delivered a Valid Notice.
A holder cannot become a Qualifying CVR Holder unless that holder delivers a Valid Notice. If a CVR Holder fails to become a Qualifying CVR Holder within one year of the delivery of the CVR Payment Notice, the ordinary shares underlying such distribution will be deemed to have been forfeited.
This press release shall satisfy Gorilla's obligation to issue a press release under 2.3(a) of the Contingent Value Rights Agreement.
About Gorilla Technology Group Inc.
Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.
Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.
For more information, please visit our website: Gorilla-Technology.com.
Important Information and Where to Find It
This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Investor Relations Contact:
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305634
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