Dear Eligible Shareholders and Placement Participants,
On behalf of the Directors, I am pleased to offer you the opportunity to participate in these Offers for New Shares, New Options and Piggyback Options, which comes at a very exciting time in our business.
The BluGlass Prospectus and Target Market Determination are available to download here:
Funds raised will primarily be used to scale and speed production and delivery of BluGlass’ visible lasers to fulfil new and existing contracts. The raise will also support additional fab equipment, working capital, and development of next-generation products to increase market competitiveness and sales.
In undertaking these Offers we’d like to thank our shareholders that have supported the Company over time and those new shareholders who participated in the Placement.
The Company recently completed the Placement which raised $2,352,493 million at $0.013 per New Share. The issue of $44,000 worth of New Shares under the Placement are to be issued to Directors subject to Shareholder approval.
Eligible Shareholders who hold Shares as of the Record Date of 30 April 2025 are each offered up to $100,000 worth of New Shares at the lower of $0.013 or a 2.5% discount to the 5 day VWAP for BLG shares prior to the Closing Date for the SPP Offer. per New Share together with one attaching New Option exercisable at $0.013 per New Share to raise up to $6.0 million (SPP Offer).
The Company has received commitments from sophisticated and professional investors (Commitment Investors) to subscribe for SPP Shares in a Shortfall Offer so that the total raised under the SPP is at least $3 million. In consideration for this commitment the Company has agreed to pay to the Commitment Investors a cash fee totalling $90,000 and issued a total of 19,500,000 New Options to the Commitment Investors. The Shortfall Offer will only be made in the event the total subscribed for under the SPP Offer is less than $3 million and will only be for the number of New Shares that takes the total raised under the SPP Offer and Shortfall Offer is $3 million.
Placement Participants are offered one New Option for every one Placement Share which was subscribed for by them (Participants Offer) for nil additional consideration. The Participants Offer is optional. No funds will be raised from the Participants Offer.
The issue of the New Options will be subject to shareholder approval under ASX LR 7.1 and 10.11, to be sought at a general meeting to be held on or about 9 June 2025.
The New Options, if exercised, will result in the issue of one Share and one attaching Piggyback Option. The full terms and conditions of the New Options and the Piggyback Options are set out in Sections 4.1 and 4.3 of this Prospectus.
It is important that Eligible Shareholders, Placement Participants Eligible Option holders and Commitment Investors read this Prospectus in its entirety and seek professional advice where necessary. The New Shares and New Options offered by this Prospectus should be considered speculative. Please refer to Section 3 for details relating to investment risks.
If you have any questions, please contact the Share Registry on 1300 288 664 (within Australia) or +61 2 9698 5414 (outside Australia) from 8.30am to 5.30pm (Sydney time), Monday to Friday. If you have any further questions, you should contact your stockbroker, solicitor, accountant, financial adviser or other professional adviser.
On behalf of the Board, I look forward to your continued support and on updating you on the Company’s progress.
Yours faithfully,
James Walker
Non-Executive Chair
