NUBURU Announces Strategic 1-For-40 Reverse Stock Split, With An Anticipated Implementation Date Of July 1, 2024
NUBURU, Inc. ("NUBURU" or the "Company") (NYSE:BURU) (OTC:BURU), a leading innovator in high-power and high-brightness industrial blue laser technology, announced that it will continue its previously announced plan to implement a 1-for-40 reverse stock split of its common stock ("Reverse Split"), with an anticipated implementation date of July 1, 2024 (the "Effective Date"), rather than the previously announced June 24, 2024 anticipated implementation date. Due to the NYSE halting trading in the common stock upon the initial announcement of the Reverse Split, the Company was unable to implement the Reverse Split as announced. The Company is in the process of appealing the NYSE's determination to initiate proceedings to delist its common stock and is being traded on the over-the-counter market under the symbol "BURU" in the meantime.
The common stock should begin trading on a split-adjusted basis at the commencement of trading on the trading day following the Effective Date under the Company's existing trading symbol "BURU." The Common Stock will be assigned a new CUSIP number, 67021W301, in connection with the Reverse Split.