NUBURU, Inc. (NYSE American: BURU) announced the closing of its best-efforts public offering, generating approximately $38.0 million in gross proceeds before fees and expenses. The offering, which included common stock and/or pre-funded warrants with accompanying Series B Preferred Stock, was led by a New York-based single-family office with participation from other accredited investors and family offices. The company plans to use the proceeds to advance its proposed acquisition of Tekne, repay outstanding debentures, and continue building its integrated Defense & Security platform.
This capital raise comes at a critical time for NUBURU, as it also disclosed receiving 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 successful completion of the offering provides the company with additional financial resources to navigate these 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 proposed acquisition of Tekne is expected to further strengthen its portfolio.
For more details on the offering and the company’s plans, the full press release is available at https://ibn.fm/mJzRm. Additional information about NUBURU can be found at www.nuburu.net.
