Nuburu receives and resolves NYSE non-compliance notification

Nuburu (BURU) received from NYSE Regulation a Warning Letter describing violations by the company of Sections 301 and 713 of the Company Guide. Section 301 of the Company Guide prohibits a listed company from issuing, or authorizing its transfer agent or registrar to issue or register, additional securities of a listed class until it has filed an application for the listing of such additional securities and received notification from the NYSE American that the securities have been approved for listing. Section 713 of the Company Guide requires stockholder approval when additional shares to be issued in connection with a transaction involve the sale, issuance, or potential issuance of common stock equal to 20% or more of outstanding stock for less than the greater of book or market value of the stock. As noted in the Letter, the company issued approximately 4.6 million common shares between May 2024 and August 2024 in connection with the conversion of certain convertible promissory notes that NYSE has determined were in violation of these provisions. The company is implementing additional controls to avoid violations of such NYSE rules in the future. The company has been advised by NYSE Regulation that, following the filing of the press release and the associated Current Report on Form 8-K, this matter is resolved.