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BluGlass completes SPP - raises $5.87 million


  • BluGlass has closed its Share Purchase Plan, raising a further $5.87 million
  • Funds will be used to scale and speed delivery of BluGlass’ visible lasers, additional fab equipment, and working capital
  • Allotment of shares expected to occur on 3 April 2024

Global semiconductor developer BluGlass Limited (ASX: BLG) has closed its Share Purchase Plan (SPP), raising $5.87 million before costs. The SPP enabled eligible shareholders to subscribe for up to $100,000 of new BluGlass shares at $0.037 per share, with (subject to shareholder approval) one free attaching option. Options are exercisable at $0.046 and expire on 28 February 2025. Every attaching option exercised will include an additional piggyback option, exercisable at $0.06 and expiring 28 February 2027. The SPP followed a strongly supported $4.3 million placement to institutional and sophisticated investors on the same terms, raising a  total of $10.17 million.

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