Nuburu, Inc. Faces Delisting Concerns
Ticker: BURUW · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1814215
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
TL;DR
Nuburu's in danger of getting delisted, stock might be toast.
AI Summary
Nuburu, Inc. filed an 8-K on December 5, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as Tailwind Acquisition Corp., is based in Centennial, Colorado, and operates in the miscellaneous electrical machinery sector.
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 or failure to meet listing standards is a significant negative event that can lead to severe stock price declines and reduced liquidity.
Key Players & Entities
- Nuburu, Inc. (company) — Registrant
- Tailwind Acquisition Corp. (company) — Former company name
- December 05, 2024 (date) — Date of earliest event reported
- Centennial, Colorado (location) — Principal Executive Offices
- 001-39489 (identifier) — Commission File Number
FAQ
What specific listing rule or standard has Nuburu, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Nuburu, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 05, 2024.
What was Nuburu, Inc.'s former company name?
Nuburu, Inc.'s former company name was Tailwind Acquisition Corp.
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 Nuburu, Inc.'s Commission File Number?
Nuburu, Inc.'s Commission File Number is 001-39489.
Filing Stats: 723 words · 3 min read · ~2 pages · Grade level 11.4 · Accepted 2024-12-11 17:10:08
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share BURU NYSE American LLC
Filing Documents
- buru-20241205.htm (8-K) — 45KB
- buru-ex99_1.htm (EX-99.1) — 15KB
- buru-ex99_2.htm (EX-99.2) — 13KB
- img91353551_0.jpg (GRAPHIC) — 2KB
- img91353551_1.jpg (GRAPHIC) — 2KB
- img91353551_2.jpg (GRAPHIC) — 7KB
- img92277072_0.jpg (GRAPHIC) — 93KB
- 0000950170-24-135448.txt ( ) — 343KB
- buru-20241205.xsd (EX-101.SCH) — 26KB
- buru-20241205_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 5, 2024, Nuburu, Inc. (the "Company") received from NYSE Regulation a Warning Letter (the "Letter") as provided under Section 1009(a) of the NYSE American LLC Company Guide (the "Company Guide") describing violations by the Company of Sections 301 and 713 of the Company Guide. Section 301 of the Company Guide prohibits a listed company from issuing, or authorizing its transfer agent or registrar to issue or register, additional securities of a listed class until it has filed an application for the listing of such additional securities and received notification from the NYSE American that the securities have been approved for listing. Section 713 of the Company Guide requires stockholder approval when additional shares to be issued in connection with a transaction involve the sale, issuance, or potential issuance of common stock (or securities convertible into common stock) equal to 20% or more of outstanding stock for less than the greater of book or market value of the stock. As noted in the Letter, the Company issued approximately 4.6 million common shares between May 2024 and August 2024 in connection with the conversion of certain convertible promissory notes that NYSE has determined were in violation of these provisions. The Company is implementing additional controls to avoid violations of such NYSE rules in the future. The Company has been advised by NYSE Regulation that, following the filing of this Current Report on Form 8-K and the issuance of the press release referenced in Item 8.01 below, this matter is resolved. A copy of the Letter is attached as Exhibit 99.1 hereto and incorporated herein by reference.
01 Other Events
Item 8.01 Other Events. On December 11, 2024, the Company issued a press release disclosing the receipt of the Letter, as required by Sections 401(j) and 1009(j) of the Company Guide. A copy of the press release is attached as Exhibit 99.2 hereto and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Letter dated December 5, 2024 from NYSE Regulation to Nuburu, Inc. 99.2 Press release of Nuburu, Inc. dated December 11, 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: December 11, 2024 By: /s/ Brian Knaley Name: Title: Brian Knaley Chief Executive Officer