Nuburu, Inc. Faces Delisting Notice
Ticker: BURUW · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1814215
Sentiment: bearish
Topics: delisting, listing-standards, corporate-action
TL;DR
Nuburu's in trouble, might get delisted.
AI Summary
Nuburu, Inc. filed an 8-K on November 22, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company, formerly known as Tailwind Acquisition Corp., was incorporated in Delaware and is headquartered in Centennial, Colorado.
Why It Matters
This filing indicates potential issues with Nuburu, Inc.'s continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- Nuburu, Inc. (company) — Registrant
- Tailwind Acquisition Corp. (company) — Former company name
- November 18, 2024 (date) — Earliest event reported date
- November 22, 2024 (date) — Date of report
- Delaware (jurisdiction) — State of incorporation
- Centennial, Colorado (location) — Principal executive offices location
- (720) 767-1400 (phone_number) — Registrant's telephone number
FAQ
What is the specific reason for Nuburu, Inc.'s notice of delisting or failure to satisfy a continued listing rule?
The provided text is a header and does not contain the specific details of the notice, only that a notice was issued.
When was Nuburu, Inc. formerly known as Tailwind Acquisition Corp.?
The filing indicates the date of the name change was June 4, 2020.
What is Nuburu, Inc.'s standard industrial classification code?
Nuburu, Inc.'s SIC code is 3690, which corresponds to Miscellaneous Electrical Machinery, Equipment & Supplies.
Where are Nuburu, Inc.'s principal executive offices located?
Nuburu, Inc.'s principal executive offices are located at 7442 S Tucson Way, Suite 130, Centennial, Colorado, 80112.
What is the Commission File Number for Nuburu, Inc.?
Nuburu, Inc.'s Commission File Number is 001-39489.
Filing Stats: 674 words · 3 min read · ~2 pages · Grade level 13.1 · Accepted 2024-11-22 17:13:18
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share BURU NYSE American LLC
Filing Documents
- buru-20241118.htm (8-K) — 44KB
- buru-ex99_1.htm (EX-99.1) — 14KB
- 0000950170-24-130290.txt ( ) — 181KB
- buru-20241118.xsd (EX-101.SCH) — 26KB
- buru-20241118_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 November 18, 2024, the Company received a notice of non-compliance (the "NYSE Notice") from the staff of the NYSE American Market (the "Exchange") indicating that the Company was noncompliant with the continued listing standard set forth in Section 803B(2)(c) of the NYSE American Company Guide (the "Company Guide"), since the Audit Committee is no longer comprised of at least two independent members, as a result of the recent resignation of an independent director serving on the Audit Committee. The NYSE Notice stated that, pursuant to Section 803B(6)(b) of the Company Guide, the Company has until the earlier of its next annual meeting of stockholders or one year from the occurrence of the event that caused the failure to comply with the audit committee composition requirements to regain compliance with the continued listing standards; provided that, if the annual meeting of stockholders occurs no later than 75 days following the event that caused the failure to comply, the Company will instead have 75 days from such event to regain compliance, meaning that the Company has until January 4, 2025 to regain compliance. The Board is undertaking a process to identify two independent directors to join the Board within the permitted time frame. The NYSE Notice does not have any immediate effect on the listing of the Company's common stock on the Exchange, which remains trading under the trading symbol "BURU". There can be no assurance, however, that the Company will be able to regain compliance with the continued listing standard discussed above in the permitted time frame. On November 22, 2024, the Company issued a press release announcing the foregoing, which press release is attached to this Current Report on Form 8-K as Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release 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: November 22, 2024 By: /s/ Brian Knaley Name: Title: Brian Knaley Chief Executive Officer