BluGlass Limited (BLG) has announced an extension to the closing date of its Share Purchase Plan (SPP) offer to 5:00 pm (Sydney Time) on 18 June 2025. This extension, detailed in a supplementary prospectus dated 16 June 2025, aims to provide additional time for investors to participate in the offer. Alongside the extension, BluGlass has secured a commitment from a New Commitment Investor who will subscribe for up to $1.5 million worth of new shares and options if the SPP and Shortfall Offer raise less than $6 million.
The New Commitment Investor will acquire these shares at the lower of $0.013 or a 2.5% discount to the 5-day VWAP for BLG shares prior to the SPP Offer’s closing date. In return for this commitment, BluGlass will pay a cash fee of $90,000 and issue new options equal to 6% of the number of new options issued to the existing Commitment Investors. The company has received applications for $3,558,007 worth of New Shares and New Options, including offers from New Commitment Investors.
This supplementary prospectus amends the original prospectus dated 1 May 2025 to reflect these changes, updating the indicative timetable and clarifying the terms for new commitment investors. The expected quotation date for new shares and options is now 26 June 2025. The overall effect of the offers, assuming full subscription, increases the fully diluted capital to 3,821,055,072 securities, with a maximum of 461,538,461 new shares to be issued under the SPP Offer. The Company emphasizes that this timetable is indicative and subject to change, reserving the right to adjust dates without prior notice. Furthermore, the last date to exercise New Options may be earlier, contingent on BluGlass announcing a sales contract of at least A$3 million with a Tier 1 company.
