NUBURU
NUBURU industrial blue laser technology
NUBURU, a company specialising in high-power and high-brightness industrial blue laser technology, has announced that it has engaged Northland Capital Markets as its financial advisor in connection with its evaluation of strategic alternatives.
With assistance from Northland and its other advisors, the company will assess a full range of strategic alternatives, including a sale, merger, divestiture, recapitalisation, going private transaction, additional financing, and other significant transactions.
The company says that it has not yet set a timetables for the conclusion of its evaluation of strategic alternatives, and has not made any decisions related to strategic alternatives at this time.
NUBURU says that there can be “no assurance” that this evaluation will result in any definitive documentation to consummate one or more transactions, or other strategic changes or outcomes, or, that the terms of any such transactions, changes, or outcomes will be favourable.
The company says that even if it enters into a definitive agreement, it may not be successful in completing a transaction, change, or outcome, or, if it completes such a transaction, change or outcome, it may not ultimately enhance value or deliver expected benefits.
NUBURU does not expect to comment further with respect to this evaluation unless or until it has approved a specific course of action or has otherwise concluded that further discourse is appropriate or legally required.
NUBURU received a non-compliance notice from the NYSE American in December 2023, which determined that shares of its common stock had been selling for a low price per share for a substantial period of time. NUBURU’s continued listing is predicated on it demonstrating sustained price improvement by no later than June 28, 2024.
In June 2023, the company delivered its first units to Essentium (since acquired by Nexa3D) as part of a multi-year, multi-million dollar agreement to develop and manufacture a blue laser-based 3D printing platform. The company also announced a partnership with GE Additive to explore the benefits of blue laser-based metal 3D printing.
