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NUBURU, Inc. ("NUBURU" or the "Company") (NYSE:BURU), a leading innovator in high-power and high-brightness industrial blue laser technology, today announced a $3 million dollar investment in the Company's common stock by strategic investors focused on strengthening and growing the Company, as well as initial purchase orders from new customers in new markets.
Brian Knaley, the Company's CEO, noted that, "The customer qualification process for our products can be lengthy and complex, but we are finally seeing the fruits of our efforts. We have orders to fill in critical new markets and with new customers and we believe this investment will accelerate our fulfillment process and path towards consistent revenue generation. We are excited about growth opportunities that we can pursue with help from investors who see the Company's potential."
Investment by Strategic Partner
The investment marks a significant step forward in NUBURU's evolution towards a more diversified and innovative future. Alessandro Zamboni, an experienced leader in the fintech industry, has led the charge on this strategic investment, as he seeks to bring his knowledge and past successes to NUBURU. With extensive experience as the Chairman of the AvantGarde Group S.p.A., including successful ventures in risk management and working capital solutions, Alessandro brings valuable expertise to help drive NUBURU to the next level.
Key Initial Orders
Among the new orders, the Company has been awarded an initial purchase order to supply BL-300s to a best-in-class manufacturer of battery systems in the sustainable energy market, with manufacturing capabilities primarily in Asia. NUBURU's transformational blue laser technology will be used in the production of fully automated, high-quality welding of components within the EV battery modules which will be used primarily in the automotive and e-mobility markets.
Next Steps
In connection with the strategic investment, the Company intends to call a special meeting of stockholders to, among other things, approve the issuance of additional common stock for the purpose of acquiring controlling and non-controlling interests in one or more entities. These changes would allow for the acquisition of additional assets and the strategic diversification of the Company's business. Additional details will be provided in the notice of such special meeting and the related proxy statement. The Company will also continue to explore capital-raising opportunities as permitted by the authorization obtained at its most recent special meeting of stockholders on February 22, 2024.
Posted In: BURU
