NUBURU, Inc. Receives Notice of Non-Compliance with the NYSE
2024年11月23日 - 8:45AM
ビジネスワイヤ(英語)
NUBURU, Inc. (“NUBURU” or the “Company”) (NYSE American:
BURU), a leading innovator in high-power and high-brightness
industrial blue laser technology, today announced it has received a
notice of non-compliance (the “NYSE Notice”) from the staff of the
NYSE American Market (the “Exchange”) indicating that the Company
has become noncompliant with the continued listing standard set
forth in Section 803B(2)(c) of the NYSE American Company Guide (the
“Company Guide”), since the Company’s Audit Committee is no longer
comprised of at least two independent directors, as a result of the
recent resignation of an independent director from the Company’s
Board of Directors. 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. As a result, 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.
About NUBURU
Founded in 2015, NUBURU, Inc. (NYSEAM: BURU) is a developer and
manufacturer of industrial blue lasers that leverage fundamental
physics and high-brightness, high-power design to produce higher
quality welds and parts at a faster rate than current lasers can
produce for laser welding and additive manufacturing of copper,
gold, aluminum and other industrially important metals. NUBURU’s
industrial blue lasers produce minimal to defect-free welds at a
rate that is up to eight times faster than traditional welding
methods — all with the flexibility inherent to laser processing.
For more information, please visit www.nuburu.net.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All statements other than statements of
historical fact contained in this press release may be
forward-looking statements. Some of these forward-looking
statements can be identified by the use of forward-looking words,
including “may,” “should,” “expect,” “intend,” “will,” “estimate,”
“anticipate,” “believe,” “predict,” “plan,” “seek,” “targets,”
“projects,” “could,” “would,” “continue,” “forecast” or the
negatives of these terms or variations of them or similar
expressions. Forward-looking statements in this press release
include, among other things, developments with our Board of
Directors and our compliance with Exchange listing standards. All
forward-looking statements are subject to risks, uncertainties, and
other factors which could cause actual results to differ materially
from those expressed or implied by such forward-looking statements.
All forward-looking statements are based upon estimates, forecasts
and assumptions that, while considered reasonable by NUBURU and its
management, are inherently uncertain and many factors may cause the
company’s actual results to differ materially from current
expectations which include, but are not limited to: (1) the ability
to continue to meet the Exchange’s listing standards; (2) failure
to achieve expectations regarding its product development and
pipeline; (3) the inability to access sufficient capital to operate
as anticipated; (4) the inability to recognize the anticipated
benefits of the business combination, which may be affected by,
among other things, competition, the ability of the company to grow
and manage growth profitably, maintain relationships with customers
and suppliers and retain its management and key employees; (5)
changes in applicable laws or regulations; (6) the possibility that
NUBURU may be adversely affected by other economic, business and/or
competitive factors; (7) volatility in the financial system and
markets caused by geopolitical and economic factors; (8) failing to
realize benefits from the partnership with GE Additive; and (9)
other risks and uncertainties set forth in the sections entitled
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in NUBURU’s most recent periodic report on Form 10-K or
Form 10-Q and other documents filed with the Securities and
Exchange Commission from time to time. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Nothing in this press release
should be regarded as a representation by any person that the
forward-looking statements set forth herein will be achieved or
that any of the contemplated results of such forward-looking
statements will be achieved. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. NUBURU does not give any assurance that it will achieve
its expected results. NUBURU assumes no obligation to update or
revise these forward-looking statements, whether as a result of new
information, future events or otherwise, except as otherwise
required by applicable law.
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Investor Relations: NUBURU, Inc.
ir@nuburu.net
(720)
767-1400
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