Highlights
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BluGlass to acquire commercial Silicon Valley laser diode production facility lease and manufacturing equipment for US$2.5 million
o Fast-tracks longer-term plan to bring fabrication processes in-house, significantly increases manufacturing capability and brings forward higher-value product development timelines
o Halves wafer production costs and scales operations, potential to bring forward positive cashflows to 2024/2025
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Successful Placement of A$3.4 million to settle the acquisition and fund the initial start-up of operations of the production facility
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Non-renounceable Entitlement Offer of up to approximately A$7.5 million to fund ongoing operations of the production facility and to enable shareholders to participate on the same terms as the Placement
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Directors taking up full entitlement in the Entitlement Offer
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