NUBURU to Appeal NYSE Commencement of Proceedings to Delist
13 Junio 2024 - 8:22PM
Business Wire
NUBURU, Inc. (“NUBURU” or the “Company”) (NYSE American: BURU),
a leading innovator in high-power and high-brightness industrial
blue laser technology, announced plans today to appeal the NYSE's
determination to delist its common stock to the Listings
Qualifications Panel of the Exchange. NYSE Regulation is commencing
delisting proceedings in connection with its determination,
announced today, that the Company is no longer suitable for listing
pursuant to Section 1003(f)(v) of the NYSE American Company Guide
due to the bid price falling under $.10.
In the interim, effective June 14, 2024, FINRA’s Department of
Market Operations has assigned the symbol “BURU” for quotation and
trading of the Company’s stock in the over-the-counter market (OTC
Markets).
NUBURU's CEO, Brian Knaley, stated, “It is unfortunate that
NUBURU is having to contend with this at a time when it is
successfully reducing debt, raising capital, taking on new orders,
and receiving prestigious recognitions in our industry. We continue
to believe the Company has a bright future and the actions of NYSE
will in no way deter our commitment to strengthen our relationships
with our shareholders, key financing partners, employees,
customers, and vendors in order to advance the Company's business
plan and increase shareholder value.”
About NUBURU
Founded in 2015, NUBURU, Inc. (NYSE American: 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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Investor Relations: David Kugelman
Atlanta Capital
Partners (866) 692-6847 Toll Free -
U.S. & Canada (404) 281-8556
Mobile and WhatsApp dk@atlcp.com
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