Financial Wire

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

-- 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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