Highlights
- BluGlass has secured $1.5 million under its Options Shortfall Agreement with Amery Partners
- Funds received from option holders for the exercise of $0.26 Options was $5.06 million
- Bolsters the recent upsized $8 million Placement to institutional investors in April
BluGlass Limited (ASX: BLG, “BluGlass” or “Company”), a global semiconductor developer pioneering visible lasers, has secured $1.5 million via the issue of 5,769,230 fully paid ordinary shares at $0.26 per share (“Shortfall Shares”) under its Shortfall Agreement with Amery Partners Pty Ltd, previously announced on 1 June 2026. This brings total proceeds in connection with the $0.26 Options that expired on 31 May 2026 to $6.56 million.
Consistent with the terms of the Options, each Shortfall Share will include one unquoted free-attaching option exercisable at $0.38 and expiring on 31 May 2028 (“Piggyback Option”). BluGlass will seek shareholder approval for the issue of the Piggyback Options under the Shortfall Agreement at its 2026 Annual General Meeting.
Proceeds from the exercise of Options, including Shortfall Shares, will be used to support the delivery of new and existing GaN laser contracts and working capital.
BluGlass Executive Chair Omer Granit said, “We appreciate the continued support from our loyal shareholders with the high Option participation rate reflecting BluGlass’ significant commercial and technical progress over the past six months. Recapitalising the business has been a priority for the Board with these proceeds enabling increased investment in our manufacturing facilities, team, and next-generation capabilities, ensuring we are wellplaced to deliver existing contracts and convert new opportunities in the pipeline. At the same time, our recent world-record single-mode laser performance has reinforced the cutting-edge nature of our technology, supporting discussions with potential customers from across our target verticals.
