NUBURU Closes $38 Million Public Offering, Plans to Advance Acquisition and Address NYSE Listing Compliance

NUBURU, Inc. (NYSE American: BURU) announced the closing of its previously announced best-efforts public offering, raising approximately $38.0 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. The company said it intends to use the proceeds to advance its proposed acquisition of Tekne, repay outstanding debentures and continue building its integrated Defense & Security platform.

The capital raise comes at a critical time for NUBURU, which 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. This dual focus on securing funding and addressing listing issues underscores the company's determination to execute its strategic vision despite market challenges.

NUBURU is a next-generation dual-use Defense & Security integrated platform company delivering software-orchestrated, hardware-enabled capabilities for defense and security, critical-infrastructure and digital-resilience markets. Its platform strategy includes directed-energy and non-kinetic effects, electronic warfare and CEMA, defense mobility, operational-resilience software and advanced deployable manufacturing. The company's recent moves signal a pivot towards building a diversified portfolio that can address growing demand for advanced defense technologies.

The $38 million offering provides NUBURU with the financial runway to pursue its acquisition of Tekne, which is expected to enhance its technological capabilities and market reach. Additionally, repaying outstanding debentures will strengthen the company's balance sheet and reduce interest expenses. However, the NYSE American delisting threat adds urgency to the company's efforts to stabilize its stock price and maintain investor confidence.

For more details on the public offering, please refer to the full press release at https://ibn.fm/mJzRm. Additional information about NUBURU and its platform is available at www.nuburu.net.