Hello CARARA,
Understanding the outstanding shares (OS) is crucial for evaluating a company's capitalization and potential dilution. For Gorilla Technology Group Inc. (US:GRRR), recent SEC filings provide clarity on the share count and its evolution.
Gorilla Technology Group Inc. Outstanding Shares
As of June 30, 2025, Gorilla Technology Group Inc. reported 20,139,069 ordinary shares outstanding.1
Increase Over the Last 12 Months
To assess the increase over the last 12 months, we can compare the outstanding shares from June 30, 2025, to June 30, 2024.
- Outstanding Shares (June 30, 2025): 20,139,0691
- Outstanding Shares (June 30, 2024): 11,611,3851
This represents an increase of 8,527,684 shares, or approximately 73.44%, over the 12-month period. This growth in outstanding shares can be attributed to various activities such as warrant exercises, new share issuances, and restricted share unit grants, as detailed in the company's financial statements.1
Addressing the "28 Million" Figure
Your mention of "28 million" shares is likely related to the company's structure following its SPAC merger. For instance, a March 27, 2025, 10-K filing for GSR III Acquisition Corp. (the SPAC that merged with Gorilla Technology) indicated a combined total of 29,172,500 shares issued and outstanding, consisting of 23,422,500 Class A ordinary shares and 5,750,000 Class B ordinary shares at that time.2 While this figure reflects the total shares related to the SPAC entity, the direct outstanding ordinary shares of Gorilla Technology Group Inc. itself, as reported in its own filings, are closer to the 20 million mark.
You can track the detailed movements in outstanding shares and other capital changes through the company's quarterly and annual reports filed with the SEC, available on Fintel.
