Aeluma (ALMU) Prices $12M Offering, Announces Nasdaq Uplisting

Aeluma, Inc. (OTCQB: ALMU) ("Aeluma" or "the Company"), a semiconductor company specializing in high performance, scalable technologies for mobile, automotive, AI, defense & aerospace, communication, and quantum computing, today announced the pricing of an underwritten public offering of 2,285,714 shares of its common stock, at a price of $5.25 per share. The offering is expected to yield approximately $12 million in gross proceeds before offering expenses and underwriting discounts and commissions.

Aeluma intends to use the net proceeds from the offering for expanding business development efforts, advancing manufacturing processes to support commercialization traction, and working capital and general business purposes.

In connection with the offering, the Company has also granted the underwriter a 30-day option to purchase up to 342,857 additional shares of common stock. The offering is expected to close on March 28, 2025, subject to customary closing conditions. On March 25, 2025, the Company received approval to list its common stock on the Nasdaq Capital Market stock exchange ("Nasdaq"). Trading on Nasdaq is expected to commence on March 27, 2025. Shareholders are not required to take any action as a result of the uplisting, and the Company's ticker symbol "ALMU" will remain unchanged.

Craig-Hallum is acting as sole underwriter for the offering.

A registration statement on Form S-1 relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on March 25, 2025. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The proposed offering will be made only by means of a prospectus. Copies of the prospectus will be filed with the SEC and, when available, may be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at [email protected]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the SEC's website at http://www.sec.gov.

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