Gorilla Technology Group Announces Share Consolidation and Warrant Price Adjustments to Meet Listing Requirements

Gorilla Technology Group Inc., a Nasdaq-listed tech firm, recently made a significant update. The company has announced that it will implement a 10-to-1 share consolidation, effective April 15, 2024. This move is intended to meet the minimum listing requirement of $1.00 per share. As a result, the total number of outstanding shares will be reduced from approximately 87 million to around 8.7 million.

In addition to the share consolidation, Gorilla Technology Group Inc. will also be adjusting the exercise price of warrants and conversion prices of other equity instruments proportionally. This step is aimed at ensuring a smooth transition and maintaining a stable financial position for the company.

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