Highlights
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BluGlass has received commitments for $10.2 million via a Placement to institutional and sophisticated investors
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Non-renounceable Entitlement Offer of up to $2.7 million to enable existing shareholders to participate on the same terms
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Funds will be used to scale product delivery and expand laser offering to address new markets
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Eligible Directors have committed to taking up their full entitlements
Global semiconductor developer BluGlass Limited (ASX: BLG) has secured $10.2 million in commitments from international and Australian institutional and sophisticated investors via a strongly supported share placement at an issue price of $0.06 per share. BluGlass will also undertake a non-renounceable Entitlement Offer to raise up to a further $2.7 million, enabling the Company’s loyal shareholders to participate on the same terms as the Placement.
Funds will be used for additional fab equipment to scale and speed product delivery, and expand BluGlass’ product offering to increase market competitiveness.
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