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Bluglass ( (AU:BLG) ) just unveiled an update.
BluGlass Limited has successfully closed its Share Purchase Plan, raising $5.3 million, which, combined with a prior $2.3 million placement, totals $7.6 million. The funds will be used to accelerate production and delivery of its visible GaN lasers, fulfill contracts, and support additional fab equipment and working capital. The capital raised is crucial for BluGlass to enhance its laser capabilities and convert its growing project pipeline, valued at US$90-$100 million, into long-term revenues. The company’s strategic partnerships, including those with the US and Indian Departments of Defense, highlight its strong industry positioning and potential for enabling next-generation applications.
More about Bluglass
BluGlass Limited (ASX:BLG) is a leading supplier of GaN laser diode products to the global photonics industry, focusing on the industrial, defence, bio-medical, and scientific markets. The company operates in Australia and the US, offering custom laser diode development and manufacturing, utilizing its proprietary low-temperature, low-hydrogen, remote plasma chemical vapour deposition (RPCVD) technology.
YTD Price Performance: -58.33%
Average Trading Volume: 2,938,539
Technical Sentiment Signal: Sell
Current Market Cap: A$19.17M
See more insights into BLG stock on TipRanks’ Stock Analysis page.