MetaOptics raises $4.85m to expand metalens production capacity

The placement supports its capital base and working-capital needs.

MetaOptics Ltd announced a proposed share placement to raise $4.85m through the issuance of more than 6 million new ordinary shares at $0.7255 each.

The funds will be used to strengthen the company’s capital base and support operational requirements related to customer demand, according to a press release.

Proceeds will be allocated to working capital and production preparation for the MetaOptics’ glass-based metalens products. The company said the placement will also assist in meeting requirements across applications in consumer devices, automotive systems and industrial uses.

MetaOptics continues to use its 4-inch Direct Laser Writer and 12-inch Deep Ultraviolet lithography platforms for customer prototyping and production processes. The company said that further updates on the placement will be provided when appropriate.

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