Nuburu (BURU) Faces NYSE Delisting for Sub-$0.20 Share Price
Ticker: BURUW · Form: 8-K · Filed: Jan 4, 2024 · CIK: 1814215
Complexity: simple
Sentiment: bearish
Topics: delisting-notice, compliance-risk, stock-price, regulatory-filing
TL;DR
**BURU is in hot water with NYSE American for its low stock price, risking delisting.**
AI Summary
Nuburu, Inc. (BURU) announced on December 28, 2023, that it received a notice from NYSE American LLC regarding its failure to meet continued listing standards. Specifically, the company's common stock, trading under the symbol BURU, has fallen below the minimum $0.20 per share price requirement. This matters to investors because it signals significant financial distress and could lead to the delisting of BURU stock, making it harder to trade and potentially reducing its value further.
Why It Matters
This notice indicates Nuburu's stock price is critically low, signaling severe financial challenges and potentially leading to its removal from the NYSE American exchange, which would significantly impact its liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company is at high risk of delisting from a major exchange, which often precedes further stock price declines and liquidity issues.
Analyst Insight
A smart investor would carefully evaluate Nuburu's ability to regain compliance with NYSE American listing standards and consider the increased risk of delisting before making any investment decisions, potentially avoiding the stock due to high uncertainty.
Key Numbers
- $0.20 — Minimum Share Price (The threshold Nuburu's stock price fell below, triggering the delisting notice from NYSE American LLC.)
Key Players & Entities
- Nuburu, Inc. (company) — the registrant facing delisting
- NYSE American LLC (company) — the exchange that issued the delisting notice
- $0.20 (dollar_amount) — the minimum share price requirement
- December 28, 2023 (date) — date of the earliest event reported
Forward-Looking Statements
- Nuburu's stock will likely experience increased volatility and downward pressure. (BURU) — high confidence, target: Q1 2024
- The company will need to implement a reverse stock split or other measures to regain compliance with NYSE American listing standards. (Nuburu, Inc.) — medium confidence, target: Q2 2024
FAQ
What is the specific reason Nuburu, Inc. received a delisting notice from NYSE American LLC?
Nuburu, Inc. received a delisting notice because its common stock, trading under the symbol BURU, failed to maintain a minimum average closing price of $0.20 per share over a 30-trading-day period, as stated in the filing under 'ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing'.
When did Nuburu, Inc. report the earliest event related to this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 28, 2023, as indicated by 'Date of Report (Date of earliest event reported): December 28, 2023'.
What is the trading symbol for Nuburu, Inc. common stock?
The trading symbol for Nuburu, Inc. common stock is BURU, as listed under 'Title of each class: Common Stock, par value $0.0001 per share, Trading Symbol(s): BURU'.
What is Nuburu, Inc.'s business address?
Nuburu, Inc.'s business address is 7442 S Tucson Way, Suite 130, Centennial, Colorado 80112, according to the 'BUSINESS ADDRESS' section of the filing.
What was Nuburu, Inc.'s former company name before its name change?
Nuburu, Inc.'s former company name was Tailwind Acquisition Corp., with the date of name change being 20200604, as stated in the 'FORMER COMPANY' section.
Filing Stats: 802 words · 3 min read · ~3 pages · Grade level 12.6 · Accepted 2024-01-04 16:32:22
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share BURU NYSE American LLC
Filing Documents
- buru-20231228.htm (8-K) — 43KB
- buru-ex99_1.htm (EX-99.1) — 14KB
- img91353551_0.jpg (GRAPHIC) — 93KB
- 0000950170-24-001927.txt ( ) — 312KB
- buru-20231228.xsd (EX-101.SCH) — 2KB
- buru-20231228_lab.xml (EX-101.LAB) — 14KB
- buru-20231228_pre.xml (EX-101.PRE) — 10KB
- buru-20231228_htm.xml (XML) — 5KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 28, 2023, Nuburu, Inc. (the “Company”) received notice (the “Notice”) from the NYSE American LLC (the “NYSE American”) indicating that the Company is not in compliance with the continued listing standard set forth in Section 1003(f)(v) of the NYSE American Company Guide (the “Company Guide”) because the shares of the Company’s common stock have been selling for a low price per share for a substantial period of time. The Notice has no immediate effect on the listing or trading of the Company’s securities and the Company’s common stock will continue to trade on the NYSE American under the symbol “BURU” with the designation of “.BC” to indicate that the Company is not in compliance with the NYSE American’s continued listing standards. Additionally, the Notice does not result in the immediate delisting of the Company’s securities from the NYSE American. Pursuant to Section 1003(f)(v) of the Company Guide, the Company’s continued listing is predicated on it demonstrating sustained price improvement by no later than June 28, 2024. The Notice further stated that, as a result of the foregoing, the Company has become subject to the procedures and requirements of Section 1009 of the Company Guide, which could, among other things, result in the initiation of delisting proceedings, unless the Company cures the deficiency in a timely manner. The Company intends to monitor the price of its Common Stock and consider available options, including conducting a reverse stock split, if its Common Stock does not trade at a consistent level likely to result in the Company regaining compliance by June 28, 2024. The Company’s receipt of the Notice does not affect the Company’s business, operations or reporting requirements wi
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On January 4, 2024, the Company issued a press release related to the foregoing. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated by reference to this Item 7.01. The information furnished in this Item 7.01 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated January 4, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Nuburu, Inc. Date: January 4, 2024 By: /s/ Brian Knaley Name: Brian Knaley Title: Chief Executive Officer