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 full prospectus is 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 $4,300,000 at $0.0.37 per Share.
Eligible Shareholders who hold Shares as of the Record Date of Friday, 9 February 2024 are each offered up to $100,000 worth of New Shares together with one attaching New Option at $0.037 per New Share to raise up to $9,000,000 (SPP Offer).
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 29 March 2024.
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 and Eligible Optionholders 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
The full prospectus is available to download here: BLG SPP Prospectus 2024
The Target Market Definition (TMD) is available to download here: BLG TMD
