Nuburu, Inc. Files 2023 10-K Amendment

Ticker: BURUW · Form: 10-K/A · Filed: Sep 6, 2024 · CIK: 1814215

Sentiment: neutral

Topics: amendment, annual-report, financials

TL;DR

Nuburu filed its 2023 10-K amendment, check it for the latest on their financials and deals.

AI Summary

Nuburu, Inc. filed an amendment to its 2023 10-K on September 6, 2024, reporting its fiscal year ending December 31, 2023. The company, formerly Tailwind Acquisition Corp., is involved in miscellaneous electrical machinery and equipment. Key dates mentioned include April 3, 2024, for a securities purchase agreement and various periods in 2022 and 2023 related to preferred stock and research expenses.

Why It Matters

This amendment provides updated financial and operational information for Nuburu, Inc. for the fiscal year 2023, crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The filing is an amendment to a 10-K, indicating potential corrections or additions to previously reported information, which could signal underlying issues or complexities.

Key Players & Entities

FAQ

What is the primary purpose of this 10-K/A filing for Nuburu, Inc.?

This 10-K/A filing is an amendment to Nuburu, Inc.'s annual report for the fiscal year ended December 31, 2023, filed on September 6, 2024.

What was Nuburu, Inc.'s former company name?

Nuburu, Inc.'s former company name was Tailwind Acquisition Corp., with a date of name change on June 4, 2020.

When was the Securities Purchase Agreement mentioned in the filing executed?

The Securities Purchase Agreement was executed on April 3, 2024.

What is Nuburu, Inc.'s business address and phone number?

Nuburu, Inc.'s business address is 7442 S Tuscon Way, Suite 130, Centennial, CO 80112, and their business phone number is (720) 767-1400.

What is Nuburu, Inc.'s Standard Industrial Classification (SIC) code and description?

Nuburu, Inc.'s SIC code is 3690, categorized as Miscellaneous Electrical Machinery, Equipment & Supplies.

Filing Stats: 4,537 words · 18 min read · ~15 pages · Grade level 15.2 · Accepted 2024-09-06 16:00:33

Key Financial Figures

Filing Documents

BUSINESS

BUSINESS 4 ITEM 1A.

RISK FACTORS

RISK FACTORS 17 ITEM 1B. UNRESOLVED STAFF COMMENTS 44 ITEM 1C. CYBERSECURITY 44 ITEM 2.

PROPERTIES

PROPERTIES 45 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 45 ITEM 4. MINE SAFETY DISCLOSURES 45 PART II 46 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 46 ITEM 6. [RESERVED] 47 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 48 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 56 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 56 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 56 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 56 ITEM 9B. OTHER INFORMATION 57 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTION THAT PREVENT INSPECTIONS. 57 PART III 58 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 58 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 63 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 67 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 70 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 79 PART IV 81 ITEM 15. EXHIBITS, FINANCIAL STATEMENTS SCHEDULES 81 ITEM 16. FORM 10-K SUMMARY 85 ii Table of Contents SPECIAL NOTE R EGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risk and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our success in retaining or recruiting, or changes required in, our officers, key employees, or directors; our public securities' potential liquidity and trading; the ability to maintain the listing of our common stock, par value of $0.0001 per share (the "Common Stock") on a securities exchange; the anticipated benefits of the Business Combination (as defined in "Frequently Used Terms" below); the outcome of any legal proceedings that may be instituted against us related to the Business Combination; existing regulations and regulatory developments in the United States and other jur

BUS INESS

ITEM 1. BUS INESS Unless the context requires otherwise, references to "Nuburu," "we," "us," or "our" in this section are to the business and operations of Legacy Nuburu prior to the Business Combination and to the Company and its subsidiaries following the Business Combination. Corporate History and Background We were originally incorporated in Delaware on July 21, 2020 under the name "Tailwind Acquisition Corp." as a special purpose acquisition company, formed for the purpose of effecting an initial business combination with one or more target businesses. On September 9, 2020 (the "IPO Closing Date"), we consummated our initial public offering (the "IPO"). On January 31, 2023, we consummated a business combination with Nuburu Subsidiary, Inc. f/k/a Nuburu, Inc. ("Legacy Nuburu"), a privately held operating company which merged into our subsidiary Compass Merger Sub, Inc. (the "Business Combination") and changed our name to "Nuburu, Inc.," and we became the owner, directly or indirectly, of all of the equity interests of Nuburu Subsidiary, Inc. and its subsidiaries. In light of the fact that the Business Combination has closed and our ongoing business will be the business formerly operated by Legacy Nuburu, this business section primarily includes information regarding Legacy Nuburu's business. Overview Nuburu is a leading innovator in high-power, high-brightness blue laser technology that is focused on bringing breakthrough improvements to multiple markets, including e-mobility, healthcare, and consumer electronics via a broad range of high value applications that include welding and 3D printing. By delivering increased speed and quality we hope to enhance productivity and cost efficiency for manufacturers in the e-mobility, consumer electronics, aerospace and defense, and 3D printing markets as well as to find additional applications currently not yet serviced by existing laser technologies. We have invented, patented, and developed what we believe to

View Full Filing

View this 10-K/A filing on SEC EDGAR

View on Read The Filing