- BluGlass has received approximately $1.66 million from the exercise of its recently listed options (ASX:BLGO), the balance of which expired on 30 November 2022.
- Additional placement of approximately $250,000 to sophisticated shareholders who applied for amounts greater than their entitlement.
Global semiconductor developer, BluGlass Limited (ASX: BLG) advises it has a raised a total of $1.91 million from the exercise of its recently listed options (ASX:BLGO), the balance of which expired on 30 November.
$1.66 million was received from the exercise of the options at a price of $0.03.
Approximately $250,000 in additional funds and commitments was also received from a group of sophisticated shareholders who applied for amounts greater than their option entitlement. BLG will place shares to these shareholders at $0.03 per share.
BluGlass Chair James Walker said “I would like to thank our loyal shareholders for their ongoing support. These options assist the ongoing operation of our Silicon Valley fab, which has been transformational for the business, speeding development and enhancing product quality. We are already reaping the significant benefits of our captive fab and supply chain, successfully demonstrating feasible reliability of our laser diode products. BluGlass is nearing productisation within large and growing markets, and will utilise this funding to deliver on the businesses goals and launch commercial products to market”.