NUBURU Announces Subsequent Private Placement To Increase The June 2023 Capital Raise To $9.2M From Existing And New Investors
Portfolio Pulse from Happy Mohamed
NUBURU, Inc. (NYSE:BURU) has announced a subsequent private placement to increase its June 2023 capital raise to $9.2M from existing and new investors. This comes after a Purchase Agreement on June 12, 2023, which raised approximately $8.0 million. The additional capital will be used to continue commercialization and execute product development. The Convertible Notes are senior, unsecured obligations of the company and bear interest at the rate of seven percent per year. The Warrants have an exercise price equal to $1.03 and expire on June 23, 2028.
June 29, 2023 | 12:15 pm
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POSITIVE IMPACT
NUBURU's capital raise could potentially boost its financial position and accelerate its product development and commercialization efforts. However, the issuance of Convertible Notes and Warrants could dilute existing shareholders.
The capital raise will provide NUBURU with additional funds to continue its commercialization and execute its product development, which could potentially lead to future growth and profitability. However, the issuance of Convertible Notes and Warrants could lead to dilution of existing shareholders, which might negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100