BluGlass Raises Over $4.5M with SPP Extension to Accelerate Production

SPP Extension and Funding Boost

BluGlass Limited (ASX – BLG), a global developer of gallium nitride (GaN) laser diodes, has announced an extension to the closing date of its Share Purchase Plan (SPP) to Wednesday, 18 June 2025. This move follows the securing of an additional $1.5 million in institutional shortfall commitments, bringing total commitments above $4.5 million since the initial announcement in early May.

The extension aims to provide eligible shareholders with more time to participate in the offer, which allows purchases of up to $100,000 worth of shares at a price set at the lower of $0.013 or a 2.5% discount to the recent five-day volume weighted average price. This capital raise is a critical step for BluGlass as it seeks to ramp up production capacity and meet growing demand.

Strategic Use of Funds

The newly secured funds will be directed towards accelerating the production and delivery of BluGlass’ visible GaN lasers. These lasers are integral to a variety of industrial, defence, biomedical, and scientific applications, reflecting the company’s diversified market focus. Additionally, the capital will support the acquisition of further fabrication equipment and bolster working capital, ensuring BluGlass can fulfill both new and existing contracts efficiently.

With 26 active projects currently in various stages of negotiation and a combined potential value between US$90 million and US$100 million, BluGlass is positioning itself to capitalize on a robust pipeline. This financial injection is expected to underpin the company’s growth trajectory and enhance its competitive edge in the photonics industry.

Market Position and Outlook

BluGlass operates as one of the few end-to-end manufacturers of GaN laser diodes globally, leveraging proprietary remote plasma chemical vapor deposition technology. This unique manufacturing process enables the production of brighter and better-performing lasers, which are increasingly in demand across multiple high-tech sectors.

The extension of the SPP and the additional funding commitments signal strong institutional confidence in BluGlass’ technology and market potential. However, the company remains cautious, noting that all dates related to the SPP are indicative and subject to change, reflecting the dynamic nature of capital raising and market conditions.