NUBURU Announces Revised Date of 1-for-40 Strategic Share Consolidation

CENTENNIAL, Colo., June 28, 2024–(BUSINESS WIRE)–NUBURU, Inc. (“NUBURU” or the “Company”) (OTC: BURU), a leading innovator of high-power, high-brightness industrial blue laser technology, announced a revised date for the implementation of a 1-for-40 reverse stock split (“Reverse Split”). The new record date for the Reverse Split is July 10, 2024.

“We are moving the Reverse Split from July 1, 2024 to July 10, 2024 to better align with our overall strategic efforts to continue the resumption of trading on the NYSE and attract larger investors who would otherwise be unable to invest in lower-priced shares,” said Brian Knaley, Chief Executive Officer of NUBURU, Inc. The Reverse Split is expected to become effective after the market close on July 10, 2024. The common stock is expected to begin trading on an adjusted basis at the start of trading on July 11, 2024, under the Company’s existing trading symbol “BURU.” The common stock will be assigned a new CUSIP number, 67021W301, in connection with the reverse split. The Company can give no assurance that its trading price will increase as anticipated, or if such an increase occurs, that it will be sustained, or that such an increase will result in the Company resuming trading on the NYSE American.

About NUBURU

Founded in 2015, NUBURU, Inc. (ticker: BURU) is a developer and manufacturer of industrial blue lasers that leverage fundamental physics and their high-brightness, high-power design to produce faster, higher-quality welds and parts than what current lasers can provide. in laser welding and additive manufacturing of copper, gold, aluminum and other essential industrial metals. NUBURU’s industrial blue lasers produce minimal to defect-free welds up to eight times faster than traditional approaches, all with the flexibility inherent in laser processing. For more information, please visit www.NUBURU.net.

Forward-looking statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, particularly regarding its partnership with GE Additive. All statements other than statements of historical fact contained in this press release may be forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking terminology, including “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate” “, ” believe “. ,”, “predict”, “plan”, “seek”, “targets”, “projects”, “could”, “would”, “continue”, “forecast” or the negatives of these terms or their variations or expressions similar . Forward-looking statements contained in this press release include, among other things: the anticipated benefits associated with laser additive manufacturing. All forward-looking statements are subject to risks, uncertainties and other factors that could cause. that actual results differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based on estimates, forecasts and assumptions that, although considered reasonable by NUBURU and its management, are inherently uncertain and. numerous factors could cause the Company’s actual results to differ materially from current expectations, including: (1) the ability to meet securities exchange listing standards and regain listing status; (2) failure to meet expectations regarding its product development and pipeline; (3) inability to access sufficient capital to operate as planned, whether from Lincoln Park Capital Fund, LLC or other sources; (4) the inability to recognize the expected benefits of the business combination, which may be affected, among other things, by competition, the ability of the Company to grow and manage its growth profitably, to maintain relationships with customers and suppliers and to retain its management and key employees; (5) changes in applicable laws or regulations; (6) the possibility that NUBURU may be adversely affected by other economic, business and/or competitive factors; (7) volatility in the financial system and markets caused by geopolitical and economic factors; (8) not having benefited from the partnership with GE Additive; and (9) other risks and uncertainties set forth in the sections titled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in NUBURU’s most recent Periodic Report on Form 10-K or Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be construed as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. NUBURU makes no guarantee that it will achieve the intended results. NUBURU undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law.

The story continues

View source version on businesswire.com: https://www.businesswire.com/news/home/20240628317154/en/

Contacts

NUBURU, Inc.
[email protected]
(720) 767-1400