Aeluma to List on Nasdaq, Expand Business Operations

Aeluma, a semiconductor company specializing in high performance, scalable technologies for mobile, automotive, AI, defense and aerospace, communication, and quantum computing, has received approval to list its common stock on the Nasdaq Capital Market stock exchange under the ticker symbol “ALMU.” The company has also priced an underwritten public offering of its stock, which is expected to yield approximately $12 million in gross proceeds.

The company plans to use the net proceeds from the offering to expand business development efforts, advance manufacturing processes to support commercialization, and for working capital and general business purposes. In connection with the offering, Aeluma has granted the underwriter a 30-day option to purchase up to 342,857 additional shares of common stock.