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.
The capital raise comes at a critical time for NUBURU, which 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. Failure to maintain listing could impact the company's ability to access public markets and investor confidence.
NUBURU positions 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. The proposed acquisition of Tekne is expected to strengthen these capabilities.
The successful closure of the offering demonstrates continued investor interest in defense technology companies, particularly those with dual-use applications. However, the company faces the immediate challenge of addressing its stock price non-compliance. The reverse stock split, if approved and implemented, could help boost the share price above the minimum threshold, but it also dilutes existing shareholders. The outcome of the appeal and the effectiveness of the reverse split will be closely watched by investors.
For more details on the offering, the full press release is available at https://ibn.fm/mJzRm. Additional information about NUBURU can be found at www.nuburu.net.
