Edison Investment Research - BluGlass (BLG) BluGlass - Extending cash runway to commercialisation

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Edison Investment Research

Richard Williamson

BluGlass - Extending cash runway to commercialisation

BluGlass’s Q421 activities were dominated by an oversubscribed entitlement offer and placements, which collectively raised A$8.4m (gross). These funds are intended to provide a cash runway through to initial sales of high-performance laser diodes, which the company plans to start shipping at scale over the coming year.

28/07/2021 2 EN

Underlying

BluGlass

BluGlass is engaged in the research and development of Group III nitrides for the development of new processes and equipment to manufacture devices such as light-emitting diodes and solar cells. Co. is using its patented low temperature Remote Plasma Chemical Vapour Deposition technology to manufacture semiconductor materials.

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AU000000BLG5 Australian Securities Exchange Australia

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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BluGlass - Fund-raising and acquisition

BluGlass has raised A$3.4m through a placement at A$0.03/share to purchase a laser diode fabrication facility (fab) in California’s Silicon Valley. It intends to raise up to A$7.5m through an entitlement offer to existing shareholders, also at A$0.03/share, which closes on 12 April 2022 using the proceeds to convert the fab to GaN laser diode production. The transaction is in line with management’s stated aim of bringing third-party processes in-house, but BluGlass is proceeding with this much sooner than originally planned because of the opportunity to purchase a fab for a fraction of the pri...

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During H122, BluGlass focused on laser diode development, primarily on improving the reliability of its first-generation product. Recent performance data from prototypes demonstrated commercial light-output results and was very positively received by potential customers. BluGlass remains on track to launch its first laser diodes by mid-calendar 2022.

February 28, 2022 February 28, 2022 1 EN

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BluGlass - Extending cash runway to commercialisation

BluGlass - Termination of coverage

BluGlass - Fund-raising and acquisition

BluGlass - Further progress towards commercialisation

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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