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, 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 stated 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 move signals NUBURU's strategic focus on expanding its capabilities in defense and security markets.
In a separate development, 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 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 announcements highlight NUBURU’s efforts to strengthen its financial position and strategic direction while addressing regulatory challenges. The $38 million infusion provides capital for growth initiatives, including the Tekne acquisition, which could enhance the company’s product offerings in defense technology. However, the delisting notice poses a risk to investor confidence and liquidity, as continued listing on NYSE American is important for visibility and access to capital markets.
NUBURU describes itself as 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.
For more information, visit the company’s website at www.nuburu.net. The full press release is available at https://ibn.fm/mJzRm.
