Nuburu announces 1-for-40 reverse stock split

NUBURU announced that it will continue its previously announced plan to implement a 1-for-40 reverse stock split of its common stock, with an anticipated implementation date of July 1, 2024, 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. “Our decision to execute this reverse stock split is part of our strategic plan to improve the marketability and liquidity of our stock, as we aim to attract a broader range of institutional investors in support of our long-term growth strategy, and return to trading on NYSE American,” said Brian Knaley, CEO of NUBURU, Inc.