NUBURU, Inc. (NYSE: BURU) shares got off on the wrong foot Monday. The company, purporting to be a global pioneer in high-performance blue laser technology, today announced that it has entered into a Securities Purchase Agreement with YA II PN, Ltd. pursuant to which it will receive a gross cash infusion of $23.25 million in exchange for the issuance of a $25.0 million unsecured debenture and related warrant packages.
The financing will significantly strengthen NUBURU’s capital position and enable the Company to accelerate execution of its previously announced acquisition and integration roadmap, advancing its transformation into a vertically integrated, multi-domain Defense & Security platform.
NUBURU will be positioned to move decisively from strategy into execution across its target industries — defense-grade laser and photonics systems, mission-critical software, advanced UAV platforms, and specialized defense mobility solutions. Closing is subject to customary closing conditions.
According to this morning’s news release, “This financing will support NUBURU’s announced transformation plan, including allowing the company to hire key personnel and advisers, develop existing intellectual property, and continue to pursue key acquisitions and investments.”
BURU shares opened Monday lower one cent, or 5.4%, to 18 cents.
