Gorilla Technology Group Inc. (GRRR) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

High Risk

Significant dilution risk

Last updated: April 15, 2026

Risk Assessment Details

Potential Dilution: 355.66% of current shares

Recent Dilution: 45.03% (2 years)

Historical Dilution Factor: significant recent dilution

Outstanding Shares

26M

Potential Supply

93M

Additional shares possible

Splits

None

Past 2 years

Summary

GRRR currently has 26.2M outstanding shares. with significant dilution risk as 93.1M authorized shares could dilute existing holders by 355.7%. The company has significantly diluted shareholders by 45.03% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Apr 15, 2026	20-F filing \| 26.2M shares outstanding	26M	93M
Apr 30, 2025	20-F filing \| 18.1M shares outstanding	18M	93M
May 15, 2024	20-F filing \| 75.7M shares outstanding	76M	93M
Jan 26, 2024	F-3 filing: This F-3 filing relates to the resale of up to 200,000 ordinary shares by selling securityholders.	76M	93M
Aug 29, 2023	POS AM filing: This POS AM filing includes information on the offering of ordinary shares issuable upon exercise of warrants and CVRs, as well as securities offered by Selling Securityholders.	69M	93M
Aug 17, 2023	F-3 filing: Gorilla Technology Group Inc. is filing an F-3 form to offer debt securities, ordinary shares, preference shares, and depositary shares with an aggregate offering price not to exceed $300,000,000, and is also conducting an at-the-market offering of ordinary shares for up to $100,000,000.	69M	93M
Apr 28, 2023	POS AM filing: This is a POS AM filing providing information on the offering of ordinary shares upon exercise of warrants and CVRs, as well as securities offered by selling securityholders.	69M	37M
Apr 28, 2023	20-F filing \| 68.5M shares outstanding	69M	37M
Oct 12, 2022	F-1 filing: This F-1 filing describes the company's financial condition, operating activities, and also details the offering of ordinary shares, warrants and Class A CVRs by the company and selling security holders.	73M	200M
Jan 07, 2022	F-1 filing: This F-1 filing registers ordinary shares and warrants of Gorilla Technology Group Inc. in connection with the business combination with Global SPAC Partners Co.	N/A	37M

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