Highlights
* BluGlass finalised acquisition of laser diode production facility lease and manufacturing equipment
* Accelerates longer-term growth strategy, bringing key fabrication processes in-house
* Acquisition funded by A$3.4 million Placement to institutional and sophisticated investors
Australian semiconductor developer BluGlass Limited (ASX: BLG) is pleased to advise that it has completed its acquisition of a 19,000 sq ft purpose-built commercial laser diode production facility lease and manufacturing equipment in Silicon Valley for US$2.5 million. The purchase price comprised US$2 million cash and US$500,000 in new BluGlass shares at an issue price of A3.3 cents per share.
BluGlass will now commence moving into the facility and preparing its adaption for gallium nitride (GaN) laser diode production – a process expected to take several months. The acquisition enables BluGlass to accelerate its longerterm growth strategy, bringing key fabrication processes in-house, to improve the quality and consistency of its GaN laser diodes.
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