Laser technology firm Nuburu seeks to raise up to $38M to fund an acquisition and repay $16.75M in debt.
Nuburu Inc (BURU) announced plans for a public offering of up to $38M in securities, priced at $0.1555 per share. The company’s stock closed at $0.15 on July 10 and fell 5% in premarket trading to $0.14.
Proceeds from the offering will finance the acquisition of a controlling stake in Tekne and repay $16.75M in outstanding debt. The proposed price represents a slight premium over the recent closing price but reflects a discount to premarket levels.
Shares declined in early trading following the announcement, signaling investor caution ahead of the offering.