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 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. This capital infusion is critical for NUBURU's strategic pivot toward defense and security markets, as it positions itself as a next-generation dual-use platform delivering software-orchestrated, hardware-enabled capabilities.
However, the company 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. NUBURU 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 dual announcement highlights the company's precarious position: while it has secured substantial funding to execute its growth strategy, it must simultaneously address the stock price issue to maintain its listing on a major exchange. The reverse stock split is a common mechanism to boost share price, but it does not change the underlying market valuation.
For investors, the offering provides near-term liquidity and a path to execute the Tekne acquisition, which could strengthen NUBURU's defense portfolio. However, the delisting risk introduces uncertainty and could impact the stock's trading liquidity and institutional interest. The outcome of the appeal and the effectiveness of the reverse stock split will be key factors to monitor.
More details on the offering can be found in the full press release at https://ibn.fm/51JUN.
