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BluGlass Secures $10.2M, Launches Entitlement Offer

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SILVERWATER, NSW, Australia, March 21, 2023 — Semiconductor technology company and laser developer BluGlass has received $10.2 million in commitments from international and Australian investors via a share placement at an issue price of $0.06 per share. The company is also undertaking a nonrenounceable entitlement offer to raise up to a further 2.7 million AUD, which allows shareholders to participate on the same terms as the placement.

Funds will be used for additional fab equipment to scale and speed product delivery and expand BluGlass’ product offerings. According to BluGlass CEO Jim Haden, the funding will provide advanced in-house capabilities that will serve to accelerate commercialization by scaling and speeding product delivery.

“We’re also investing in our GaN laser offering to leverage our competitive advantages, address new markets and applications, and take market share,” Haden said.

BluGlass introduced its first suite of gallium nitride (GaN) laser products earlier this year.


Published: March 2023
Glossary
gallium nitride
Gallium nitride (GaN) is a compound made up of gallium (Ga) and nitrogen (N). It is a wide-bandgap semiconductor material that exhibits unique electrical and optical properties. Gallium nitride is widely used in the production of various electronic and optoelectronic devices, including light-emitting diodes (LEDs), laser diodes, power electronics, and high-frequency communication devices. Key points about gallium nitride (GaN): Chemical composition: Gallium nitride is a binary compound...
semiconductor
A semiconductor is a type of material that has electrical conductivity between that of a conductor and an insulator. In other words, semiconductors have properties that are intermediate between metals (good conductors of electricity) and insulators (poor conductors of electricity). The conductivity of a semiconductor can be controlled and modified by factors such as temperature, impurities, or an applied electric field. The most common semiconductors are crystalline solids, and they are...
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