BluGlass has secured a new A$8.0 million R&D loan facility with Rockford RDF Pty Ltd, replacing its existing A$2.27 million Radium facility.
Highlights
- BluGlass has secured a new A$8.0 million R&D loan facility with Rockford RDF Pty Ltd, replacing its existing A$2.27 million Radium facility.
- The Facility provides approximately A$5.5 million of additional funding liquidity, after refinancing the existing Radium facility.
- The Facility is secured primarily against BluGlass’ anticipated FY26 and FY27 R&D Tax Incentive refunds, with a limited featherweight security over other Company assets.
- The additional funding will be used to support working capital and various growth initiatives.
Global semiconductor developer BluGlass Limited (ASX: BLG, “BluGlass” or “Company”) advises that it has agreed terms with Rockford RDF Pty Ltd as trustee for the Rockford RDF Unit Trust (“Rockford”) for a new A$8.0 million research and development financing facility (“Facility”). The Facility will refinance the Company’s existing Radium facility and, net of that repayment, provide approximately A$5.5 million of additional funding liquidity. The Facility will support BluGlass’ working capital requirements and growth initiatives.
The Facility carries an interest rate of 16.5% per annum and a 2.5% establishment fee, comprising A$100,000 capitalised into the loan balance and A$100,000 payable in BluGlass shares. A$2.75 million is scheduled to be repaid from the FY26 R&D Tax Incentive refund, with the balance to be repaid from the FY27 R&D Tax Incentive refund and no later than 1 March 2028. The Facility is secured by first-ranking security over the FY26 and FY27 R&D Tax Incentive refunds, together with a limited featherweight security over the Company’s other assets.
CEO and Managing Director Jim Haden said: “The new debt facility gives BluGlass early access to anticipated R&D Tax Incentive refunds that will be used to advance our operational and commercial objectives. Most notably, these include scaling our production capabilities, converting revenue opportunities, and continuing to develop differentiated laser solutions for various high-growth markets such as quantum sensing, advanced manufacturing, and defence”.
This announcement has been approved for release by the Board of BluGlass.
