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BluGlass - Placement and Rights Issue

Key Points:

- BluGlass placement to leading technology focused micro-cap fund to raise A$2 million.
- BluGlass entitlement offer of approximately A$6 million to provide capital to expedite laser diode opportunity and enable ongoing execution of business strategy.
- Entitlement offer priced and structured to encourage broad shareholder participation.
- Issue price of placement and entitlement offer of $0.03 represents a 47.5% discount to the Company’s 15 day VWAP to 7 June 2021 of $0.0571.
- Directors and key executives to take up full entitlement under the entitlement offer.

BluGlass Limited (ASX:BLG) (BluGlass or Company) announces today a non-renounceable entitlement offer on a 1 for 4 basis (Entitlement Offer) to holders of ordinary shares in the Company (Shareholders) held at 7:00pm (Sydney time) on 15 June 2021 (Record Date).

BluGlass is also undertaking a private placement of 66,666,667 new fully paid ordinary shares (New Shares) to raise $2 million at an issue price of $0.03 per New Share (Placement). The New Shares to be issued under the Placement will be issued to a leading technology focused fund and are intended to be issued on or around 11 June 2021 and will be eligible to participate in the Entitlement Offer.

For more information, download the attached PDF.

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