NUBURU Announces Revised Date for Strategic 1-for-40 Reverse Stock Split
NUBURU (OTC: BURU), a leading innovator in high-power blue laser technology, announced a revised date for its 1-for-40 reverse stock split. Originally scheduled for July 1, 2024, the new date is set for July 10, 2024. This strategic move aims to help the company resume trading on the NYSE and attract larger investors. The reverse split will be effective after market close on July 10, with trading on a split-adjusted basis starting July 11, 2024. The stock will retain its current trading symbol but will receive a new CUSIP number, 67021W301. However, there are no guarantees that the trading price will increase or remain sustained, nor that the company will successfully resume trading on the NYSE.
- The reverse stock split aims to help NUBURU resume NYSE trading, potentially attracting larger investors.
- No assurance provided that the trading price will increase or be sustained post-split.
- Uncertainty about successfully resuming trading on NYSE American.
“We are moving the Reverse Split from July 1, 2024 to July 10, 2024 to better coordinate with our overall strategic efforts to pursue resuming trading on NYSE and attract larger investors who may not otherwise invest in low-price stock,” said Brian Knaley, CEO of NUBURU, Inc. The Reverse Split is expected to become effective on July 10, 2024 after the close of market. The Common Stock should begin trading on a split-adjusted basis at the commencement 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 cannot provide assurance that its trading price will increase as anticipated, or if such increase does occur, that it will be sustained, or that such increase will result in the Company resuming trading on 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 current lasers can provide in laser welding and additive manufacturing of copper, gold, aluminum, and other industrially essential metals. NUBURU's industrial blue lasers produce minimal to defect-free welds up to eight times faster than the traditional approaches — all with the flexibility inherent to 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 United States 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, including relating to 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 words, 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 variations of them or similar expressions. Forward-looking statements in this press release include, among other things: anticipated benefits associated with laser-based additive manufacturing. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by NUBURU and its management, are inherently uncertain and many factors may cause the Company's actual results to differ materially from current expectations which include, but are not limited to: (1) the ability to meet security exchange listing standards and regain listed status; (2) failure to achieve expectations regarding its product development and pipeline; (3) the inability to access sufficient capital to operate as anticipated, whether from Lincoln Park Capital Fund, LLC or other sources; (4) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and 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) failing to realize benefits from the partnership with GE Additive; and (9) other risks and uncertainties set forth in the sections entitled "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 filings 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 regarded 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 does not give any assurance that it will achieve its expected results. NUBURU assumes 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.
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NUBURU, Inc.
ir@nuburu.net
(720) 767-1400
Source: NUBURU, Inc.
FAQ
What is the new date for NUBURU's 1-for-40 reverse stock split?
Why did NUBURU revise the date for its reverse stock split?
When will NUBURU's stock begin trading on a split-adjusted basis?
What is the new CUSIP number for NUBURU's stock after the reverse split?
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Is there a guarantee that NUBURU's stock price will increase after the reverse split?
Will NUBURU definitely resume trading on the NYSE after the reverse stock split?
