No. The options are @ 3c. There is no current capital raising.
BLG are looking to underwrite the options. That would mean they are working with someone to take the lapsed options and convert them @ 3c. This would be equivalent to a cap raise @ 3c, only available to the underwriter.
Options are currently being converted and BLG also has the R&D rebate from the Gov. BLG will therefore be funded for the near term. There will need to be a future cap raise, but we don't know when since we don't know how many options will be converted.
If all options get converted or the options get underwritten, BLG will have over $8m. This will see them through to later next year when they have market traction through product sales.
From James' TechOps 22 interview, BLG is hoping to have beta products out by the end of this calendar year, and they hope to have something significant to say at the biggest laser show in San Francisco in mid-January (Product Launch?).
James expects/hopes the company to be funded at least until they can demonstrate repeat sales and also get rerated by the share market. BLG will then be in a position to raise more capital and at a much higher SP.
If all goes well, 3c will be the last good value time you can increase your holding and support the company.
I'm not betting on a future low ball capital raise. I think those times are behind us and as such, have converted my options.
Add to My Watchlist
What is My Watchlist?
