BluGlass Secures two additional orders for commercial laser products
- Semiconductor developer BluGlass (BLG) secures two additional orders for its commercial lasers
- The two purchase orders are for BLG’s single-mode and multi-mode violet 405-nanometre and blue 450-nanometre gallium nitride lasers in flexible form factors
- While the initial order volumes are small and financially not material, Blu Glass says orders are expected to grow in volume and frequency once its lasers have been qualified within their applications
- Meanwhile, the company has received commitments to raise $10.2 million via a placement to institutional and sophisticated investors at 6 cents per share
- The company shares are down 15.3 per cent, trading at 6.4 cents at 3:23 pm AEDT
