NUBURU Closes $38 Million Public Offering, Faces NYSE Delisting Notice

NUBURU, Inc. (NYSE American: BURU) announced the closing of its best-efforts public offering, raising approximately $38 million in gross proceeds before fees and expenses. The offering included common stock and/or pre-funded warrants with accompanying Series B Preferred Stock and was led by a New York-based single-family office with participation from other accredited investors and family offices, according to a press release.

The company intends to use the proceeds to advance its proposed acquisition of Tekne, repay outstanding debentures, and continue building its integrated Defense & Security platform. This capital infusion is critical for NUBURU's strategic growth, particularly as it seeks to expand its dual-use capabilities in defense and security markets.

However, NUBURU also disclosed that it received notice from NYSE American that it had fallen out of compliance with the exchange's continued listing requirements after its common stock traded below $0.10 during the trading day. The company said it plans to appeal the delisting determination and implement a previously approved reverse stock split in an effort to regain compliance with NYSE American listing standards. The delisting notice underscores the challenges NUBURU faces in maintaining its listing status, which could impact investor confidence and liquidity.

The dual announcements highlight a pivotal moment for NUBURU. On one hand, the successful closing of the public offering provides the financial resources needed to execute its acquisition and debt repayment plans. On the other hand, the delisting notice adds urgency to its efforts to stabilize its stock price and comply with exchange requirements.

For more details, the full press release is available at https://ibn.fm/51JUN. Additional information about NUBURU can be found on its website at www.nuburu.net.