BLUGLASS RECEIVES COMMITMENT OF $1.1M IN SHORTFALL PLACEMENT
BluGlass has received commitments to place $1.1 million of its Rights Issue shortfall Shares expected to be issued on or around 24 April 2020
Australian semiconductor technology developer, BluGlass Limited (ASX:BLG) is pleased to announce that it has received commitments for its Rights Issue shortfall bookbuild of 55,025,196 million shares at $0.02 per share to raise $1.1 million.
This supports the BluGlass Rights Issue, which raised a total of $4.76M (before costs) from eligible shareholders. The Rights Issue and Shortfall placement have raised a total of $5.86M (before costs), which will be used primarily to expedite BluGlass’ laser diode product development and commercialisation activities.
Allotment of the shortfall shares is expected to occur on or around 24 April 2020.
This release has been approved for release by the board of BluGlass.