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. 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 as it faces compliance issues with NYSE American. The company disclosed that it received notice from NYSE American regarding non-compliance with continued listing requirements after its common stock traded below $0.10 during a trading day. NUBURU plans to appeal the delisting determination and implement a previously approved reverse stock split to regain compliance with NYSE American listing standards.
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 company's focus on these areas underscores the strategic importance of the funding to support its growth and technological advancements.
The offering's success, led by a single-family office and other institutional investors, signals confidence in NUBURU's strategic direction despite the listing challenges. The proposed acquisition of Tekne is expected to further enhance the company's capabilities in the defense and security sector. The use of proceeds for debt repayment also strengthens the company's balance sheet.
For more information, visit the full press release at https://ibn.fm/51JUN and the company's website at www.nuburu.net.
