NUBURU, Inc. (NYSE American: BURU) announced the closing of its 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 intends to use the proceeds to advance its proposed acquisition of Tekne, repay outstanding debentures, and continue building its integrated Defense & Security platform.
Concurrently, NUBURU 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 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 development highlights the company's strategic push to strengthen its position in the defense and security sector while addressing immediate financial and regulatory challenges. The $38 million raise provides capital to execute key initiatives, but the delisting threat underscores the volatility and risks associated with penny stocks.
For more details, refer to the full press release at https://ibn.fm/51JUN. Additional information about NUBURU is available at www.nuburu.net.
