Aeluma Wins $4 Million in Contracts for US Government Semiconductor Program; Shares Rise Pre-Bell

MT Newswires Live

04/13

Aeluma (ALMU) said Monday it has won more than $4 million in contracts to scale the US government's semiconductor heterogenous integration platform for quantum and high-speed datacom applications.

The company said Tower Semiconductor (TSEM) and Sumitomo Chemical Advanced Technology will participate in the work involved in the contracts.

"These contracts provide non-dilutive funding to accelerate commercialization, and to strengthen our relationship with key government partners in making manufacturing of next-generation photonic systems more viable," said CEO Jonathan Klamkin.

Shares of Aeluma rose more than 23% in premarket trading Monday.

Price: 13.27, Change: +2.51, Percent Change: +23.33

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