Blue Laser Fusion completes reverse merger with $25m placement

Blue Laser Fusion entered public reporting with little revenue and fresh cash.

Private Blue Laser Fusion completed a reverse merger into Unite Acquisition 2 and became a wholly owned subsidiary of the renamed Blue Laser Fusion Inc., a Wednesday SEC filing shows. A concurrent private placement sold 910,265 shares at $27.50, raising $25.0m before fees.

The laser fusion developer reported $28,232 of licensing revenue and a $4.5m net loss for the first half. It said commercial manufacturing and principal operations have not begun.

The transaction created a public reporting company, but the filing lists no exchange for its securities. Placement agents received cash fees tied to introduced investors and warrants to buy 91,026 shares at $33.