Global SPAC Partners today confirmed it has secured a $41.9 million PIPE in support of its proposed acquisition of Gorilla Technology Group. That brings the SPAC’s total PIPE funding to about $92 million.
Additionally, Gorilla notified Global that it would waive the $50 million minimum cash condition to close the deal, such that the condition would be fulfilled with minimum cash of $41.9 million — the PIPE amount.
As a result, the SPAC is no longer seeking a deadline extension until August and will instead put the merger to a shareholder vote on July 13.
The deal is valued at $708 million.
Global raised $160 million in an April 2021 IPO.
Based in Taiwan, Gorilla Technology is engaged in Edge AI security applications. Read more.
